Stevens Capital Management LP Purchases Shares of 35,964 Rayonier Inc. (RYN)
Stevens Capital Management LP bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 35,964 shares of the real estate investment trust’s stock, valued at approximately $1,039,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in Rayonier by 22.0% during the 2nd quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 642 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Rayonier by 88.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 2,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 acquiring an additional 351 shares in the last quarter. Enterprise Financial Services Corp acquired a new position in Rayonier during the 2nd quarter worth about $144,000. Finally, Creative Planning lifted 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 acquiring an additional 1,417 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (RYN) opened at $30.99 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. Rayonier Inc. has a 1-year low of $26.07 and a 1-year high of $31.67. The firm has a market capitalization of $3,909.21, a PE ratio of 61.88, a price-to-earnings-growth ratio of 11.28 and a beta of 0.36.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. The company had revenue of $177.90 million for the quarter, compared to the consensus estimate of $144.06 million. During the same quarter in the prior year, the business earned $0.33 EPS. Rayonier’s revenue was up 3.8% on a year-over-year basis. equities analysts expect that Rayonier Inc. will post 0.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 3.23%. Rayonier’s dividend payout ratio (DPR) is 95.24%.
Several research firms recently issued reports on RYN. Royal Bank Of Canada reissued a “hold” rating and set a $29.00 target price on shares of Rayonier in a research note on Wednesday. Zacks Investment Research raised Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Monday, November 6th. BMO Capital Markets reissued a “hold” rating and set a $31.00 target price on shares of Rayonier in a research note on Friday, September 29th. Finally, BidaskClub lowered Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.25.
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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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