Insider Buying: Rayonier Inc. (RYN) Director Buys $104,640.00 in Stock
Rayonier Inc. (NYSE:RYN) Director Andrew G. Wiltshire purchased 4,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $26.16 per share, with a total value of $104,640.00. Following the completion of the acquisition, the director now directly owns 19,356 shares of the company’s stock, valued at approximately $506,352.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Rayonier Inc. (NYSE:RYN) opened at 27.59 on Tuesday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 19.47 and a beta of 0.38. Rayonier Inc. has a 12-month low of $17.85 and a 12-month high of $28.16. The company has a 50-day moving average price of $26.27 and a 200-day moving average price of $26.28.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.20. Rayonier had a net margin of 24.68% and a return on equity of 5.37%. The firm earned $171.40 million during the quarter, compared to the consensus estimate of $153.91 million. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Rayonier Inc. will post $0.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, December 14th. Rayonier’s payout ratio is 70.92%.
A number of hedge funds and other institutional investors have recently made changes to their positions in RYN. Canada Pension Plan Investment Board increased its position in shares of Rayonier by 26.2% in the first quarter. Canada Pension Plan Investment Board now owns 13,500 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 2,800 shares during the last quarter. UBS Group AG increased its position in shares of Rayonier by 5.7% in the first quarter. UBS Group AG now owns 54,333 shares of the real estate investment trust’s stock valued at $1,341,000 after buying an additional 2,930 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rayonier by 3.0% in the first quarter. Geode Capital Management LLC now owns 765,619 shares of the real estate investment trust’s stock valued at $18,895,000 after buying an additional 22,407 shares during the last quarter. HBK Investments L P purchased a new position in shares of Rayonier during the first quarter valued at approximately $1,176,000. Finally, Renaissance Technologies LLC increased its position in shares of Rayonier by 26.9% in the first quarter. Renaissance Technologies LLC now owns 1,393,600 shares of the real estate investment trust’s stock valued at $34,394,000 after buying an additional 295,200 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
RYN has been the subject of several research analyst reports. TheStreet upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Monday, August 8th. Finally, Buckingham Research downgraded shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $26.75.
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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