Rayonier Inc. (NYSE:RYN) SVP Douglas M. Long sold 2,305 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $29.51, for a total value of $68,020.55. Following the transaction, the senior vice president now owns 8,556 shares of the company’s stock, valued at $252,487.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Rayonier Inc. (NYSE:RYN) opened at 29.38 on Monday. The stock’s 50 day moving average price is $28.32 and its 200-day moving average price is $27.18. Rayonier Inc. has a one year low of $22.04 and a one year high of $29.86. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 16.99 and a beta of 0.37.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The firm earned $142.80 million during the quarter, compared to the consensus estimate of $127.77 million. Rayonier had a return on equity of 4.85% and a net margin of 26.89%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, equities research analysts expect that Rayonier Inc. will post $0.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.40%. Rayonier’s dividend payout ratio is currently 58.14%.
Several hedge funds and other institutional investors have recently modified their holdings of RYN. Sei Investments Co. increased its position in shares of Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 1,568 shares in the last quarter. Creative Planning increased its position in shares of Rayonier by 1.0% in the third quarter. Creative Planning now owns 3,942 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 40 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Rayonier during the third quarter valued at approximately $122,000. Envestnet Asset Management Inc. increased its position in shares of Rayonier by 140.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,733 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 3,348 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Rayonier by 6.8% in the third quarter. LS Investment Advisors LLC now owns 7,842 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 497 shares in the last quarter. Institutional investors own 84.66% of the company’s stock.
A number of brokerages have recently commented on RYN. DA Davidson lowered Rayonier from a “buy” rating to a “neutral” rating in a report on Thursday, February 16th. Vertical Research lowered Rayonier from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Zacks Investment Research lowered Rayonier from a “hold” rating to a “sell” rating in a report on Monday, January 30th. Raymond James Financial, Inc. upgraded Rayonier from a “market perform” rating to an “outperform” rating in a report on Monday, January 9th. Finally, RBC Capital Markets reiterated a “hold” rating and set a $27.00 price target on shares of Rayonier in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Rayonier currently has a consensus rating of “Hold” and a consensus price target of $29.00.
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in 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. Its 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.