M&T Bank Corp cut its holdings in Rayonier Inc. (NYSE:RYN) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,899 shares of the real estate investment trust’s stock after selling 4,209 shares during the quarter. M&T Bank Corp’s holdings in Rayonier were worth $377,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Advisor Group Inc. boosted its stake in Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 642 shares during the last quarter. Acadian Asset Management LLC bought a new position in Rayonier in the fourth quarter valued at approximately $168,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rayonier by 46.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 2,229 shares during the last quarter. Gamble Jones Investment Counsel bought a new position in Rayonier in the fourth quarter valued at approximately $237,000. Finally, Parametrica Management Ltd bought a new position in Rayonier in the fourth quarter valued at approximately $252,000. 82.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on RYN shares. 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 research report on Monday, November 6th. Royal Bank of Canada reissued a “hold” rating and set a $30.00 price target on shares of Rayonier in a research report on Friday, January 12th. Finally, BMO Capital Markets reissued a “hold” rating and set a $31.00 price target on shares of Rayonier in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Rayonier has a consensus rating of “Hold” and a consensus target price of $33.33.
Rayonier Inc. (RYN) opened at $34.18 on Friday. The firm has a market cap of $4,326.95, a price-to-earnings ratio of 29.47, a PEG ratio of 10.29 and a beta of 0.42. Rayonier Inc. has a 52-week low of $26.84 and a 52-week high of $34.82. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 0.60.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $186.30 million for the quarter, compared to analysts’ expectations of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. research analysts anticipate that Rayonier Inc. will post 0.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. Rayonier’s dividend payout ratio is 86.21%.
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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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