Stock Traders Buy Large Volume of Rayonier Call Options (RYN)
Rayonier Inc. (NYSE:RYN) saw some unusual options trading activity on Wednesday. Investors purchased 566 call options on the stock. This is an increase of 876% compared to the typical daily volume of 58 call options.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Rayonier by 22.0% during the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 642 shares during the period. Riverhead Capital Management LLC lifted its holdings in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 during the last quarter. Creative Planning lifted its holdings in 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 during the last quarter. Finally, Bluestein R H & Co. purchased a new stake in Rayonier during the second quarter valued at about $201,000. 83.39% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on RYN. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price target on shares of Rayonier in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Monday, November 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $31.00 price target on shares of Rayonier in a report on Thursday, November 2nd. Finally, BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.25.
Shares of Rayonier (RYN) opened at $31.21 on Friday. Rayonier has a 1-year low of $26.15 and a 1-year high of $31.79. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3,978.83, a P/E ratio of 62.98, a price-to-earnings-growth ratio of 11.48 and a beta of 0.39.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The firm had revenue of $177.90 million for the quarter, compared to analyst estimates of $144.06 million. During the same period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. equities analysts predict that Rayonier will post 0.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 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 3.20%. The ex-dividend date of this dividend is Thursday, December 14th. Rayonier’s payout ratio is 95.24%.
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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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