Sterling Capital Management LLC Buys 2,900 Shares of Rayonier Inc. (RYN)
Sterling Capital Management LLC raised its stake in Rayonier Inc. (NYSE:RYN) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,279 shares of the real estate investment trust’s stock after acquiring an additional 2,900 shares during the period. Sterling Capital Management LLC’s holdings in Rayonier were worth $1,648,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in shares of Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 642 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Rayonier by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 2,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rayonier by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 351 shares in the last quarter. Enterprise Financial Services Corp bought a new position in shares of Rayonier during the second quarter valued at $144,000. Finally, Creative Planning lifted its holdings in shares of Rayonier by 36.2% during the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,417 shares in the last quarter. 82.40% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research analysts have recently issued reports on RYN shares. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Monday, August 21st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price target on shares of Rayonier in a report on Sunday, October 8th. BMO Capital Markets reaffirmed a “hold” rating and set a $31.00 price target on shares of Rayonier in a report on Friday, September 29th. Finally, BidaskClub raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rayonier currently has an average rating of “Hold” and an average price target of $30.25.
Rayonier Inc. (NYSE:RYN) opened at 29.94 on Thursday. Rayonier Inc. has a 1-year low of $25.71 and a 1-year high of $30.18. The stock has a 50 day moving average price of $28.92 and a 200 day moving average price of $28.62. The company has a market cap of $3.85 billion, a P/E ratio of 25.22 and a beta of 0.34.
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 Thomson Reuters’ consensus estimate of $0.11 by $0.09. The business had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that Rayonier Inc. will post $0.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. Rayonier’s payout ratio is 84.75%.
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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