Russell Investments Group Ltd. lifted its position in shares of Rayonier Inc. (NYSE:RYN) by 22.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 497,382 shares of the real estate investment trust’s stock after acquiring an additional 91,577 shares during the period. Russell Investments Group Ltd.’s holdings in Rayonier were worth $14,028,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RYN. Victory Capital Management Inc. grew its position in shares of Rayonier by 149.0% during the second quarter. Victory Capital Management Inc. now owns 2,085,050 shares of the real estate investment trust’s stock worth $63,177,000 after acquiring an additional 1,247,775 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Rayonier by 26.0% during the second quarter. Impax Asset Management Group plc now owns 3,350,211 shares of the real estate investment trust’s stock worth $101,511,000 after acquiring an additional 691,355 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Rayonier during the second quarter worth about $16,929,000. Point72 Asset Management L.P. bought a new position in shares of Rayonier during the second quarter worth about $11,334,000. Finally, Invesco Ltd. grew its position in shares of Rayonier by 13.3% during the second quarter. Invesco Ltd. now owns 2,794,429 shares of the real estate investment trust’s stock worth $84,670,000 after acquiring an additional 328,147 shares during the last quarter. Institutional investors and hedge funds own 85.51% of the company’s stock.

RYN has been the subject of a number of recent analyst reports. Bank of America decreased their target price on shares of Rayonier from $32.00 to $31.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. TheStreet lowered shares of Rayonier from a “b-” rating to a “c” rating in a research report on Wednesday, August 7th. BMO Capital Markets decreased their target price on shares of Rayonier from $34.00 to $30.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, DA Davidson upgraded shares of Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Rayonier presently has a consensus rating of “Hold” and an average target price of $31.55.

RYN traded up $0.06 on Tuesday, reaching $29.50. The company had a trading volume of 5,273 shares, compared to its average volume of 539,176. The company has a fifty day moving average of $28.67 and a 200-day moving average of $29.10. The company has a market capitalization of $3.83 billion, a P/E ratio of 37.37 and a beta of 0.76. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Rayonier Inc. has a one year low of $25.83 and a one year high of $32.92.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.27 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.08 dividend on an annualized basis and a yield of 3.66%. Rayonier’s dividend payout ratio is presently 136.71%.

In related news, Director Andrew G. Wiltshire bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $26.34 per share, for a total transaction of $52,680.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

About Rayonier

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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