Rayonier Inc. (RYN) VP Sells $56,739.76 in Stock
Rayonier Inc. (NYSE:RYN) VP Mark R. Bridwell sold 2,114 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $26.84, for a total value of $56,739.76. Following the sale, the vice president now owns 14,925 shares of the company’s stock, valued at $400,587. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Rayonier Inc. (NYSE:RYN) opened at 26.27 on Friday. Rayonier Inc. has a 1-year low of $17.85 and a 1-year high of $28.16. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 18.54 and a beta of 0.38. The stock has a 50 day moving average price of $26.28 and a 200-day moving average price of $26.27.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.20. The business earned $171.40 million during the quarter, compared to analysts’ expectations of $153.91 million. Rayonier had a return on equity of 5.37% and a net margin of 24.68%. Rayonier’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. On average, equities research analysts expect that Rayonier Inc. will post $0.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. Rayonier’s dividend payout ratio (DPR) is presently 70.92%.
Several brokerages have commented on RYN. Buckingham Research lowered Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, August 8th. Finally, TheStreet upgraded Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Two investment 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 “Buy” and an average price target of $26.75.
Several hedge funds have recently modified their holdings of RYN. Integrated Investment Consultants LLC acquired a new stake in shares of Rayonier during the second quarter valued at approximately $100,000. Sei Investments Co. boosted its stake in Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 1,568 shares during the last quarter. Creative Planning boosted its stake in Rayonier by 1.0% in the third quarter. Creative Planning now owns 3,942 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 40 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Rayonier during the third quarter worth about $122,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Rayonier during the second quarter worth about $176,000. 84.45% of the stock is owned by institutional investors and hedge funds.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in 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. Its 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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