Shares of Rayonier Inc. (NYSE:RYN) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.55.
A number of analysts have recently commented on the stock. DA Davidson raised shares of Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, November 1st. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Friday, August 16th.
Several large investors have recently bought and sold shares of RYN. Public Employees Retirement System of Ohio raised its stake in Rayonier by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 55,909 shares of the real estate investment trust’s stock valued at $1,577,000 after purchasing an additional 457 shares in the last quarter. California State Teachers Retirement System increased its holdings in Rayonier by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 206,366 shares of the real estate investment trust’s stock valued at $5,820,000 after buying an additional 558 shares during the period. Pictet Asset Management Ltd. increased its holdings in Rayonier by 2.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,117,315 shares of the real estate investment trust’s stock valued at $87,908,000 after buying an additional 75,383 shares during the period. BBVA USA Bancshares Inc. acquired a new position in shares of Rayonier in the 3rd quarter valued at approximately $641,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Rayonier by 9.9% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 17,522 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 1,581 shares in the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, December 16th. Rayonier’s payout ratio is 136.71%.
Rayonier Company 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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