Rayonier Inc. (RYN) Stake Maintained by Taylor Asset Management Inc.
Taylor Asset Management Inc. held its position in Rayonier Inc. (NYSE:RYN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,200 shares of the real estate investment trust’s stock at the end of the second quarter. Rayonier comprises about 0.2% of Taylor Asset Management Inc.’s portfolio, making the stock its 24th largest position. Taylor Asset Management Inc.’s holdings in Rayonier were worth $523,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of RYN. IFP Advisors Inc boosted its position in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rayonier by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 351 shares during the last quarter. Enterprise Financial Services Corp bought a new position in Rayonier during the second quarter worth $144,000. Creative Planning boosted its position in Rayonier by 36.2% in the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 1,417 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new position in Rayonier during the second quarter worth $157,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (RYN) opened at 28.32 on Wednesday. The company’s 50-day moving average price is $28.72 and its 200 day moving average price is $28.53. The company has a market cap of $3.64 billion, a P/E ratio of 23.86 and a beta of 0.35. Rayonier Inc. has a 52 week low of $25.24 and a 52 week high of $29.86.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The business had revenue of $194.70 million for the quarter, compared to analyst estimates of $151.50 million. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. Equities research analysts anticipate that Rayonier Inc. will post $0.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s dividend payout ratio (DPR) is 84.75%.
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A number of research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research report on Monday, July 31st. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, August 21st. BMO Capital Markets cut Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a research report on Monday, August 14th. BidaskClub cut Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Vertical Research raised Rayonier to a “buy” rating in a research report on Sunday, May 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rayonier has a consensus rating of “Hold” and an average price target of $29.80.
Rayonier Company Profile
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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