Stelac Advisory Services LLC Decreases Position in Rayonier Inc. (RYN)
Stelac Advisory Services LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 18.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,180 shares of the real estate investment trust’s stock after selling 2,316 shares during the period. Stelac Advisory Services LLC’s holdings in Rayonier were worth $293,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised 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 in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Rayonier by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 21,189 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 73 shares in the last quarter. Novare Capital Management LLC raised its position in shares of Rayonier by 0.8% in the first quarter. Novare Capital Management LLC now owns 9,280 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 75 shares in the last quarter. Utah Retirement Systems raised its position in shares of Rayonier by 0.4% in the first quarter. Utah Retirement Systems now owns 22,327 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 100 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Rayonier by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 29,895 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Rayonier Inc. (RYN) traded up 0.63% during trading on Wednesday, reaching $28.56. The company’s stock had a trading volume of 11,946 shares. The stock has a 50 day moving average price of $28.84 and a 200 day moving average price of $28.54. Rayonier Inc. has a 1-year low of $25.24 and a 1-year high of $29.86. The stock has a market capitalization of $3.67 billion, a PE ratio of 24.06 and a beta of 0.35.
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, beating analysts’ consensus estimates of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 47.4% on a year-over-year basis. Analysts anticipate that Rayonier Inc. will post $0.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.52%. Rayonier’s payout ratio is currently 84.75%.
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Several brokerages have recently commented on RYN. Vertical Research upgraded Rayonier to a “buy” rating in a research note on Sunday, May 28th. BMO Capital Markets lowered Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a research note on Monday. Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 target price on shares of Rayonier in a research note on Monday, July 31st. BidaskClub lowered Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.00.
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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