Rayonier Inc. (RYN) Holdings Cut by Gideon Capital Advisors Inc.
Gideon Capital Advisors Inc. decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 52.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,548 shares of the real estate investment trust’s stock after selling 10,613 shares during the quarter. Gideon Capital Advisors Inc.’s holdings in Rayonier were worth $369,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of RYN. Robeco Institutional Asset Management B.V. increased its stake in Rayonier by 7,393.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 922,415 shares of the real estate investment trust’s stock valued at $35,687,000 after purchasing an additional 910,105 shares in the last quarter. Northern Trust Corp increased its stake in Rayonier by 52.9% during the 1st quarter. Northern Trust Corp now owns 2,161,877 shares of the real estate investment trust’s stock valued at $76,055,000 after purchasing an additional 748,243 shares in the last quarter. Millennium Management LLC increased its stake in Rayonier by 1,188.8% during the 1st quarter. Millennium Management LLC now owns 533,064 shares of the real estate investment trust’s stock valued at $18,753,000 after purchasing an additional 491,704 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Rayonier by 2.9% in the 1st quarter. BlackRock Inc. now owns 13,014,231 shares of the real estate investment trust’s stock valued at $457,841,000 after acquiring an additional 364,500 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Rayonier in the 1st quarter valued at $10,448,000. Institutional investors and hedge funds own 85.95% of the company’s stock.
Several analysts have recently commented on RYN shares. BMO Capital Markets downgraded shares of Rayonier from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 18th. Raymond James set a $40.00 price objective on shares of Rayonier and gave the company a “buy” rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Rayonier presently has a consensus rating of “Hold” and an average target price of $35.40.
Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.18 by $0.10. The business had revenue of $245.90 million for the quarter, compared to the consensus estimate of $193.04 million. Rayonier had a net margin of 19.12% and a return on equity of 7.47%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. research analysts expect that Rayonier Inc. will post 0.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, September 13th. Rayonier’s dividend payout ratio (DPR) is currently 166.15%.
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 March 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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