Swiss National Bank grew its position in Rayonier Inc. (NYSE:RYN) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,200 shares of the real estate investment trust’s stock after acquiring an additional 3,400 shares during the quarter. Swiss National Bank’s holdings in Rayonier were worth $10,961,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in RYN. Dark Forest Capital Management LP bought a new stake in shares of Rayonier in the 2nd quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rayonier by 258.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,074 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 774 shares during the period. FMR LLC lifted its position in shares of Rayonier by 119.5% in the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 802 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Rayonier in the 3rd quarter worth approximately $57,000. Finally, BDO Wealth Advisors LLC lifted its position in shares of Rayonier by 103.2% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,770 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 899 shares during the period. Institutional investors own 88.73% of the company’s stock.
A number of analysts have commented on RYN shares. BMO Capital Markets reiterated a “hold” rating and issued a $36.00 price objective on shares of Rayonier in a research report on Monday, November 8th. Zacks Investment Research downgraded Rayonier from a “strong-buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research report on Tuesday, January 4th. Finally, Royal Bank of Canada raised their target price on Rayonier from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, November 5th.
Rayonier stock opened at $39.30 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.63. The company has a market capitalization of $5.55 billion, a PE ratio of 36.06 and a beta of 0.94. Rayonier Inc. has a one year low of $30.27 and a one year high of $41.09. The business has a 50 day simple moving average of $39.20 and a 200 day simple moving average of $37.76.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.21. Rayonier had a return on equity of 5.45% and a net margin of 14.63%. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities analysts anticipate that Rayonier Inc. will post 0.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 17th were given a $0.27 dividend. The ex-dividend date was Thursday, December 16th. This represents a $1.08 annualized dividend and a yield of 2.75%. Rayonier’s payout ratio is 99.08%.
Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.
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