Retirement Systems of Alabama raised its stake in shares of Rayonier Inc. (NYSE:RYN) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 166,080 shares of the real estate investment trust’s stock after buying an additional 7,346 shares during the period. Retirement Systems of Alabama’s holdings in Rayonier were worth $4,778,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RYN. Wells Fargo & Company MN boosted its position in shares of Rayonier by 49.7% in the first quarter. Wells Fargo & Company MN now owns 204,407 shares of the real estate investment trust’s stock valued at $5,792,000 after buying an additional 67,873 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Rayonier by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,781 shares of the real estate investment trust’s stock valued at $1,241,000 after buying an additional 600 shares during the period. Exencial Wealth Advisors LLC boosted its position in shares of Rayonier by 2.9% in the first quarter. Exencial Wealth Advisors LLC now owns 61,416 shares of the real estate investment trust’s stock valued at $1,749,000 after buying an additional 1,731 shares during the period. IFP Advisors Inc boosted its position in shares of Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 67 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Rayonier by 1,136.2% in the first quarter. Russell Investments Group Ltd. now owns 413,871 shares of the real estate investment trust’s stock valued at $11,728,000 after buying an additional 380,393 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Shares of Rayonier Inc. (NYSE RYN) opened at 27.80 on Friday. The firm has a market capitalization of $3.57 billion, a PE ratio of 23.42 and a beta of 0.35. The stock’s 50 day moving average is $28.79 and its 200 day moving average is $28.53. Rayonier Inc. has a 52-week low of $25.24 and a 52-week high of $29.86.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. The business 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 company’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. On average, equities research analysts forecast that Rayonier Inc. will post $0.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s payout ratio is currently 84.75%.

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Several brokerages have issued reports on RYN. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price target on shares of Rayonier in a research report on Monday, July 31st. BMO Capital Markets cut shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a research report on Monday, August 14th. BidaskClub cut shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Rayonier currently has a consensus rating of “Hold” and a consensus price target of $30.00.

About Rayonier

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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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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