Keybank National Association OH raised its stake in Rayonier Inc. (NYSE:RYN) by 175.2% in the second quarter, Holdings Channel reports. The firm owned 37,618 shares of the real estate investment trust’s stock after acquiring an additional 23,950 shares during the quarter. Keybank National Association OH’s holdings in Rayonier were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Personal Wealth Partners acquired a new stake in Rayonier during the 2nd quarter worth approximately $33,000. FMR LLC lifted its holdings in Rayonier by 119.5% during the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 802 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Rayonier during the 1st quarter worth approximately $72,000. Stelac Advisory Services LLC lifted its holdings in Rayonier by 34.5% during the 1st quarter. Stelac Advisory Services LLC now owns 5,196 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 1,332 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new stake in Rayonier during the 1st quarter worth approximately $158,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.

Several research firms recently weighed in on RYN. Zacks Investment Research cut Rayonier from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. ValuEngine raised Rayonier from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets dropped their price target on Rayonier from $34.00 to $30.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. TheStreet cut Rayonier from a “b-” rating to a “c” rating in a report on Wednesday, August 7th. Finally, Bank of America dropped their price target on Rayonier from $32.00 to $31.00 and set an “underperform” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.19.

NYSE RYN traded up $0.19 during midday trading on Friday, hitting $27.04. The company had a trading volume of 1,055,000 shares, compared to its average volume of 565,138. The company has a market capitalization of $3.48 billion, a PE ratio of 50.66 and a beta of 0.77. The company has a current ratio of 2.56, a quick ratio of 2.61 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $29.08 and a 200-day moving average price of $30.01. Rayonier Inc. has a twelve month low of $25.83 and a twelve month high of $35.63.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $196.11 million. Rayonier had a return on equity of 4.18% and a net margin of 9.28%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. On average, equities analysts anticipate that Rayonier Inc. will post 0.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.08 annualized dividend and a yield of 3.99%. Rayonier’s dividend payout ratio is presently 136.71%.

In related news, CEO David L. Nunes acquired 10,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $26.14 per share, with a total value of $261,400.00. Following the acquisition, the chief executive officer now directly owns 328,428 shares of the company’s stock, valued at $8,585,107.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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