US Bancorp DE cut its position in shares of Rayonier Inc. (NYSE:RYN) by 4.0% during the first quarter, HoldingsChannel.com reports. The firm owned 10,203 shares of the real estate investment trust’s stock after selling 428 shares during the period. US Bancorp DE’s holdings in Rayonier were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RYN. Norges Bank bought a new stake in shares of Rayonier during the fourth quarter valued at approximately $52,001,000. Vanguard Group Inc increased its position in shares of Rayonier by 9.9% during the third quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock valued at $667,917,000 after purchasing an additional 1,773,986 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Rayonier by 2,669.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,418,448 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,367,222 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Rayonier during the first quarter valued at approximately $26,391,000. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Rayonier during the first quarter valued at approximately $20,780,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

In other Rayonier news, CFO Mark Mchugh sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $32.62, for a total value of $326,200.00. Following the sale, the chief financial officer now directly owns 61,613 shares in the company, valued at $2,009,816.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

RYN has been the topic of a number of research reports. Zacks Investment Research upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. Seaport Global Securities initiated coverage on Rayonier in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $31.74 price objective on the stock. Finally, TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.91.

RYN opened at $30.43 on Friday. Rayonier Inc. has a 1 year low of $26.30 and a 1 year high of $39.68. The company has a market cap of $3.97 billion, a PE ratio of 38.52 and a beta of 0.74. The company has a current ratio of 2.95, a quick ratio of 2.61 and a debt-to-equity ratio of 0.59.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Rayonier had a return on equity of 5.16% and a net margin of 10.75%. The firm had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $184.31 million. During the same period in the prior year, the business posted $0.31 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. As a group, research analysts predict that Rayonier Inc. will post 0.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, June 13th. Rayonier’s dividend payout ratio (DPR) is 136.71%.

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Rayonier Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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