Wolverine Trading LLC trimmed its holdings in shares of Rayonier (NYSE:RYN) by 57.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,735 shares of the real estate investment trust’s stock after selling 12,979 shares during the period. Wolverine Trading LLC’s holdings in Rayonier were worth $308,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of RYN. Paloma Partners Management Co purchased a new stake in Rayonier during the fourth quarter valued at about $12,797,000. Prudential Financial Inc. boosted its holdings in shares of Rayonier by 54.4% during the third quarter. Prudential Financial Inc. now owns 846,146 shares of the real estate investment trust’s stock worth $24,445,000 after purchasing an additional 298,040 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Rayonier by 35.6% during the third quarter. Wells Fargo & Company MN now owns 1,060,137 shares of the real estate investment trust’s stock worth $30,627,000 after purchasing an additional 278,516 shares during the period. Impax Asset Management LTD boosted its holdings in shares of Rayonier by 20.7% during the third quarter. Impax Asset Management LTD now owns 1,128,605 shares of the real estate investment trust’s stock worth $32,605,000 after purchasing an additional 193,610 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Rayonier by 1.4% during the fourth quarter. BlackRock Inc. now owns 12,649,731 shares of the real estate investment trust’s stock worth $400,113,000 after purchasing an additional 178,076 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.
A number of analysts have recently weighed in on RYN shares. Royal Bank of Canada reiterated a “hold” rating and set a $30.00 target price on shares of Rayonier in a report on Friday, January 12th. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, February 13th. Citigroup initiated coverage on shares of Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target for the company. Finally, ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.25.
Shares of NYSE RYN opened at $35.65 on Friday. Rayonier has a fifty-two week low of $26.84 and a fifty-two week high of $36.31. The company has a market cap of $4,586.36, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 10.89 and a beta of 0.28. The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.60.
Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. sell-side analysts anticipate that Rayonier will post 0.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, March 15th. Rayonier’s dividend payout ratio (DPR) is currently 153.85%.
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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 December 31, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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