Robeco Institutional Asset Management B.V. Acquires 910,105 Shares of Rayonier Inc. (RYN)
Robeco Institutional Asset Management B.V. grew its holdings in Rayonier Inc. (NYSE:RYN) by 7,393.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 922,415 shares of the real estate investment trust’s stock after buying an additional 910,105 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.71% of Rayonier worth $35,687,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Synovus Financial Corp purchased a new position in shares of Rayonier during the 1st quarter worth about $124,000. Interactive Financial Advisors boosted its stake in shares of Rayonier by 114.9% during the 2nd quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,713 shares during the period. Quantbot Technologies LP purchased a new position in shares of Rayonier during the 1st quarter worth about $138,000. TLP Group LLC boosted its stake in shares of Rayonier by 1,819.3% during the 1st quarter. TLP Group LLC now owns 5,681 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 5,385 shares during the period. Finally, Weil Company Inc. purchased a new position in shares of Rayonier during the 1st quarter worth about $202,000. 85.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on RYN. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Raymond James set a $40.00 price target on shares of Rayonier and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Finally, BMO Capital Markets cut shares of Rayonier from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.40.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. Rayonier had a net margin of 19.12% and a return on equity of 7.47%. The company had revenue of $245.90 million during the quarter, compared to analyst estimates of $193.04 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. research analysts forecast that Rayonier Inc. will post 0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.08 dividend on an annualized basis and a yield of 3.17%. Rayonier’s payout ratio is 166.15%.
Rayonier Company Profile
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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