Janney Montgomery Scott LLC boosted its stake in shares of Rayonier Inc. (NYSE:RYN) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,078 shares of the real estate investment trust’s stock after acquiring an additional 2,243 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rayonier were worth $667,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Rayonier by 6.5% in the second quarter. BlackRock Inc. now owns 12,050,093 shares of the real estate investment trust’s stock valued at $346,681,000 after buying an additional 732,408 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Rayonier by 5.5% in the second quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock valued at $305,296,000 after buying an additional 551,924 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Rayonier by 0.9% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,727,707 shares of the real estate investment trust’s stock valued at $136,583,000 after buying an additional 41,077 shares in the last quarter. State Street Corp increased its position in shares of Rayonier by 5.7% in the second quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock valued at $99,289,000 after buying an additional 186,679 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of Rayonier by 25.7% in the third quarter. Pictet Asset Management Ltd. now owns 2,205,523 shares of the real estate investment trust’s stock valued at $63,717,000 after buying an additional 451,033 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) opened at $31.17 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.45. The stock has a market capitalization of $4,010.00, a P/E ratio of 29.41, a PEG ratio of 11.63 and a beta of 0.44. Rayonier Inc. has a 12 month low of $26.15 and a 12 month high of $31.82.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Thursday, December 14th. Rayonier’s dividend payout ratio is presently 94.34%.
RYN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Rayonier from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BMO Capital Markets restated a “hold” rating and issued a $31.00 price objective on shares of Rayonier in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $29.00 price objective on shares of Rayonier in a research report on Wednesday, November 15th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $31.25.
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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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