Shelton Capital Management Takes Position in Rayonier Inc. (RYN)
Shelton Capital Management bought a new stake in shares of Rayonier Inc. (NYSE:RYN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,442 shares of the real estate investment trust’s stock, valued at approximately $272,000.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Rayonier by 13,910.0% during 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 acquiring an additional 11,236,902 shares in the last quarter. UBS Oconnor LLC bought a new stake in shares of Rayonier during the first quarter valued at approximately $22,100,000. Wells Fargo & Company MN increased its position in shares of Rayonier by 282.4% during the second quarter. Wells Fargo & Company MN now owns 781,621 shares of the real estate investment trust’s stock valued at $22,487,000 after acquiring an additional 577,214 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Rayonier by 5.5% during the second quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock valued at $305,296,000 after acquiring an additional 551,924 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Rayonier by 98.1% during the second quarter. American Century Companies Inc. now owns 671,431 shares of the real estate investment trust’s stock valued at $19,317,000 after acquiring an additional 332,576 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) opened at 29.72 on Monday. The stock has a market cap of $3.82 billion, a PE ratio of 25.04 and a beta of 0.34. Rayonier Inc. has a 52 week low of $25.71 and a 52 week high of $30.18. The firm has a 50-day moving average of $28.81 and a 200 day moving average of $28.58.
Rayonier (NYSE:RYN) last posted its quarterly earnings data 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. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The company’s revenue was up 47.4% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. On average, equities analysts forecast that Rayonier Inc. will post $0.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.36%. The ex-dividend date was Thursday, September 14th. Rayonier’s payout ratio is 84.75%.
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RYN has been the subject of several analyst reports. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, August 21st. BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price target on shares of Rayonier in a research report on Monday, July 31st. Finally, BMO Capital Markets downgraded shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 target price for the company. in a research report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rayonier presently has a consensus rating of “Hold” and an average price target of $30.25.
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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