Global Alpha Capital Management Ltd. raised its position in shares of Rayonier Inc. (NYSE:RYN) by 44.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,635 shares of the real estate investment trust’s stock after purchasing an additional 97,800 shares during the period. Rayonier accounts for approximately 2.6% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 18th biggest position. Global Alpha Capital Management Ltd. owned approximately 0.25% of Rayonier worth $10,807,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Rayonier by 4.5% during the 2nd quarter. BlackRock Inc. now owns 13,594,331 shares of the real estate investment trust’s stock valued at $525,964,000 after purchasing an additional 580,100 shares during the period. Renaissance Technologies LLC boosted its stake in Rayonier by 31.6% during the 3rd quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock valued at $105,464,000 after purchasing an additional 748,900 shares during the period. Pictet Asset Management Ltd. boosted its stake in Rayonier by 21.9% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,819,250 shares of the real estate investment trust’s stock valued at $95,319,000 after purchasing an additional 506,890 shares during the period. Northern Trust Corp boosted its stake in Rayonier by 0.9% during the 2nd quarter. Northern Trust Corp now owns 2,182,268 shares of the real estate investment trust’s stock valued at $84,432,000 after purchasing an additional 20,391 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Rayonier by 191.7% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,245,414 shares of the real estate investment trust’s stock valued at $42,107,000 after purchasing an additional 818,534 shares during the period. 84.72% of the stock is owned by hedge funds and other institutional investors.
Separately, ValuEngine lowered shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.50.
Shares of NYSE:RYN opened at $30.54 on Thursday. The company has a market capitalization of $3.95 billion, a PE ratio of 46.98, a P/E/G ratio of 7.57 and a beta of 0.47. Rayonier Inc. has a twelve month low of $29.27 and a twelve month high of $39.73. The company has a quick ratio of 2.54, a current ratio of 2.87 and a debt-to-equity ratio of 0.57.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. The company had revenue of $200.90 million during the quarter, compared to analyst estimates of $179.87 million. Rayonier had a net margin of 18.48% and a return on equity of 7.34%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 EPS. Equities analysts forecast that Rayonier Inc. will post 0.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, December 14th. Rayonier’s dividend payout ratio is currently 166.15%.
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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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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