TIAA CREF Investment Management LLC Has $12.57 Million Position in Rayonier Inc. (RYN)
TIAA CREF Investment Management LLC lifted its holdings in Rayonier Inc. (NYSE:RYN) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 436,920 shares of the real estate investment trust’s stock after purchasing an additional 11,331 shares during the period. TIAA CREF Investment Management LLC owned 0.34% of Rayonier worth $12,570,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of RYN. Wells Fargo & Company MN boosted its holdings in shares of Rayonier by 49.7% during the 1st quarter. Wells Fargo & Company MN now owns 204,407 shares of the real estate investment trust’s stock worth $5,792,000 after buying an additional 67,873 shares during the period. World Asset Management Inc acquired a new stake in Rayonier in the 1st quarter worth $214,000. UBS Asset Management Americas Inc. grew its position in Rayonier by 17.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 103,999 shares of the real estate investment trust’s stock worth $2,947,000 after purchasing an additional 15,347 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Rayonier in the 1st quarter worth $837,000. Finally, Sei Investments Co. grew its position in Rayonier by 418.0% in the 1st quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock worth $685,000 after purchasing an additional 19,513 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Rayonier Inc. (NYSE RYN) opened at 29.04 on Tuesday. The company has a market capitalization of $3.73 billion, a PE ratio of 24.47 and a beta of 0.34. Rayonier Inc. has a 12 month low of $25.24 and a 12 month high of $29.86. The stock’s 50 day moving average is $28.50 and its 200-day moving average is $28.49.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue was up 47.4% compared to the same quarter last year. On average, analysts expect that Rayonier Inc. will post $0.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.44%. Rayonier’s payout ratio is presently 84.75%.
RYN has been the topic of several recent research reports. 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 report on Monday, August 21st. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $31.00 target price on shares of Rayonier in a research note on Friday. Finally, BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. 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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