Rayonier Inc. (RYN) Stake Lessened by Neuberger Berman Group LLC
Neuberger Berman Group LLC reduced its position in shares of Rayonier Inc. (NYSE:RYN) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,562 shares of the real estate investment trust’s stock after selling 1,242 shares during the quarter. Neuberger Berman Group LLC’s holdings in Rayonier were worth $678,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Enterprise Financial Services Corp purchased a new stake in shares of Rayonier during the 2nd quarter worth about $144,000. Creative Planning boosted its stake in shares of Rayonier by 36.2% during the 2nd quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 1,417 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Rayonier during the 2nd quarter worth about $157,000. Envestnet Asset Management Inc. boosted its stake in shares of Rayonier by 9.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,256 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 523 shares in the last quarter. Finally, World Asset Management Inc purchased a new stake in shares of Rayonier during the 1st quarter worth about $214,000. 82.40% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on RYN shares. Vertical Research raised shares of Rayonier to a “buy” rating in a research note on Sunday, May 28th. Zacks Investment Research lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price target on shares of Rayonier in a research note on Monday, July 31st. Finally, BMO Capital Markets lowered shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research note on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.00.
Rayonier Inc. (RYN) opened at 28.46 on Thursday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 23.98 and a beta of 0.35. The company has a 50-day moving average of $28.57 and a 200-day moving average of $28.49. Rayonier Inc. has a 52 week low of $25.24 and a 52 week high of $29.86.
Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm’s revenue was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Analysts anticipate that Rayonier Inc. will post $0.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s dividend payout ratio is currently 84.75%.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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