American International Group Inc. lowered its holdings in Rayonier (NYSE:RYN) by 3.2% during the first quarter, HoldingsChannel.com reports. The fund owned 258,227 shares of the real estate investment trust’s stock after selling 8,536 shares during the period. American International Group Inc.’s holdings in Rayonier were worth $9,084,000 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. Schwab Charles Investment Management Inc. increased its stake in Rayonier by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 898,700 shares of the real estate investment trust’s stock valued at $28,426,000 after acquiring an additional 33,481 shares during the period. Acadian Asset Management LLC bought a new stake in Rayonier in the fourth quarter valued at about $168,000. State of Alaska Department of Revenue grew its stake in Rayonier by 10.7% during the fourth quarter. State of Alaska Department of Revenue now owns 78,535 shares of the real estate investment trust’s stock worth $2,482,000 after buying an additional 7,600 shares during the last quarter. SG Americas Securities LLC grew its stake in Rayonier by 292.9% during the fourth quarter. SG Americas Securities LLC now owns 72,052 shares of the real estate investment trust’s stock worth $2,279,000 after buying an additional 53,714 shares during the last quarter. Finally, Bollard Group LLC grew its stake in Rayonier by 2.8% during the fourth quarter. Bollard Group LLC now owns 90,612 shares of the real estate investment trust’s stock worth $2,866,000 after buying an additional 2,471 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier opened at $37.58 on Monday, MarketBeat.com reports. The company has a current ratio of 3.00, a quick ratio of 2.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 57.82, a PEG ratio of 10.59 and a beta of 0.27. Rayonier has a 1-year low of $27.31 and a 1-year high of $39.14.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $180.82 million. Rayonier had a net margin of 19.08% and a return on equity of 6.92%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. equities analysts anticipate that Rayonier will post 0.71 EPS for the current year.
Several analysts have weighed in on RYN shares. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Citigroup started coverage on shares of Rayonier in a research note on Thursday, March 1st. They set a “neutral” rating and a $37.00 price objective on the stock. Finally, Raymond James set a $40.00 price objective on shares of Rayonier and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.40.
Rayonier Company Profile
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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