Northwestern Mutual Investment Management Company LLC Reduces Position in Rayonier Inc. (RYN)
Northwestern Mutual Investment Management Company LLC reduced its position in shares of Rayonier Inc. (NYSE:RYN) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,155 shares of the real estate investment trust’s stock after selling 34 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Rayonier were worth $555,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Rayonier by 1.8% during the 1st 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rayonier by 7.9% during the 2nd 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 period. Enterprise Financial Services Corp acquired a new position in Rayonier during the 2nd quarter worth approximately $144,000. Creative Planning raised its stake in Rayonier by 36.2% during the 2nd 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 period. Finally, Independent Portfolio Consultants Inc. acquired a new position in Rayonier during the 2nd quarter worth approximately $157,000. 82.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier Inc. (NYSE:RYN) opened at 28.54 on Wednesday. The stock has a 50 day moving average price of $28.71 and a 200 day moving average price of $28.53. The stock has a market capitalization of $3.67 billion, a P/E ratio of 24.04 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 released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $151.50 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was up 47.4% on a year-over-year basis. On average, equities research analysts expect that Rayonier Inc. will post $0.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. Rayonier’s payout ratio is 84.75%.
A number of research analysts recently weighed in on the company. BidaskClub raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, August 21st. BMO Capital Markets downgraded 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, August 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price target on shares of Rayonier in a research note on Monday, July 31st. Finally, Vertical Research raised Rayonier to a “buy” rating in a research note on Sunday, May 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rayonier currently has a consensus rating of “Hold” and an average target price of $30.00.
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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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