Rayonier Inc. (RYN) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. reduced its position in Rayonier Inc. (NYSE:RYN) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,508 shares of the real estate investment trust’s stock after selling 170 shares during the period. Capstone Asset Management Co.’s holdings in Rayonier were worth $245,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of RYN. IFP Advisors Inc raised its stake in shares of Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 67 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Rayonier during the second quarter worth about $157,000. Envestnet Asset Management Inc. raised its stake in shares of Rayonier by 9.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,256 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 523 shares in the last quarter. Washington Trust Bank raised its stake in shares of Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 6,750 shares in the last quarter. Finally, Foster Dykema Cabot & Co. Inc. MA purchased a new stake in shares of Rayonier during the first quarter worth about $204,000. 82.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (NYSE:RYN) traded down 0.25% during trading on Friday, reaching $27.80. The company had a trading volume of 78,841 shares. The firm has a market capitalization of $3.57 billion, a P/E ratio of 23.42 and a beta of 0.35. Rayonier Inc. has a 12 month low of $25.24 and a 12 month high of $29.86. The firm’s 50 day moving average price is $28.81 and its 200 day moving average price is $28.53.
Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $151.50 million. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. Rayonier’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. Equities analysts predict that Rayonier Inc. will post $0.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio (DPR) is presently 84.75%.
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A number of analysts have recently issued reports on the company. BMO Capital Markets lowered Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research note on Monday. Zacks Investment Research upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research report on Monday, July 31st. BidaskClub downgraded Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Vertical Research upgraded Rayonier to a “buy” rating in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Rayonier presently has an average rating of “Hold” and an average target price of $30.00.
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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