BB&T Corp Maintains Position in Rayonier Inc. (RYN)
BB&T Corp maintained its stake in Rayonier Inc. (NYSE:RYN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,674 shares of the real estate investment trust’s stock at the end of the second quarter. BB&T Corp’s holdings in Rayonier were worth $1,141,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of RYN. BlackRock Inc. raised its stake in Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock valued at $320,744,000 after buying an additional 11,236,902 shares during the last quarter. Capital One National Association acquired a new stake in Rayonier during the first quarter valued at approximately $369,000. Sei Investments Co. raised its stake in Rayonier by 418.0% in the first quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 19,513 shares during the last quarter. Koch Industries Inc. acquired a new stake in Rayonier during the first quarter valued at approximately $226,000. Finally, Stevens Capital Management LP acquired a new stake in Rayonier during the first quarter valued at approximately $1,110,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. During the same quarter in the previous year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 47.4% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, September 14th. Rayonier’s payout ratio is currently 84.75%.
Several equities research analysts recently commented on RYN shares. Zacks Investment Research lowered shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BMO Capital Markets reissued a “buy” rating and set a $31.00 price objective on shares of Rayonier in a research note on Wednesday, April 19th. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a research note on Sunday, May 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.00.
In other news, Director Andrew G. Wiltshire acquired 6,650 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average price of $27.87 per share, with a total value of $185,335.50. Following the transaction, the director now directly owns 26,006 shares in the company, valued at $724,787.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.
Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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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