Citadel Advisors LLC boosted its position in Rayonier Inc. (NYSE:RYN) by 7,696.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,824 shares of the real estate investment trust’s stock after buying an additional 672,091 shares during the period. Citadel Advisors LLC owned about 0.55% of Rayonier worth $19,295,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of Rayonier by 47.7% in the first quarter. Morgan Stanley now owns 552,695 shares of the real estate investment trust’s stock worth $15,663,000 after buying an additional 178,369 shares in the last quarter. UBS Group AG boosted its position in shares of Rayonier by 0.8% in the first quarter. UBS Group AG now owns 52,635 shares of the real estate investment trust’s stock worth $1,491,000 after buying an additional 418 shares in the last quarter. Geode Capital Management LLC boosted its position in Rayonier by 4.0% in the first quarter. Geode Capital Management LLC now owns 937,893 shares of the real estate investment trust’s stock valued at $26,579,000 after buying an additional 36,356 shares during the period. Vanguard Group Inc. boosted its position in Rayonier by 5.1% in the first quarter. Vanguard Group Inc. now owns 10,059,697 shares of the real estate investment trust’s stock valued at $285,092,000 after buying an additional 490,621 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Rayonier during the first quarter valued at $20,356,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (RYN) traded down 1.36% on Tuesday, hitting $28.93. The stock had a trading volume of 350,089 shares. The company has a market cap of $3.58 billion, a PE ratio of 15.40 and a beta of 0.39. The stock’s 50-day moving average price is $28.17 and its 200 day moving average price is $28.09. Rayonier Inc. has a 52 week low of $24.47 and a 52 week high of $29.86.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.05. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $159.31 million. Rayonier had a return on equity of 4.10% and a net margin of 27.54%. Rayonier’s revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, analysts predict that Rayonier Inc. will post $0.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.46%. Rayonier’s dividend payout ratio is currently 53.48%.
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Several equities analysts have weighed in on RYN shares. Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. BMO Capital Markets reiterated a “buy” rating and set a $31.00 price target on shares of Rayonier in a report on Thursday, March 16th. Finally, Vertical Research upgraded Rayonier to a “buy” rating in a report on Sunday, May 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $29.80.
In related news, Director Andrew G. Wiltshire bought 6,650 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were acquired at an average cost of $27.87 per share, for a total transaction of $185,335.50. Following the purchase, the director now directly owns 26,006 shares of the company’s stock, valued at $724,787.22. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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.
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