UBS Asset Management Americas Inc. lifted its position in Rayonier Inc. (NYSE:RYN) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,024 shares of the real estate investment trust’s stock after buying an additional 10,540 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.12% of Rayonier worth $5,093,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its stake in shares of Rayonier by 3.5% in the third quarter. California Public Employees Retirement System now owns 438,580 shares of the real estate investment trust’s stock valued at $12,671,000 after buying an additional 14,980 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Rayonier by 59.0% in the third quarter. Public Employees Retirement System of Ohio now owns 166,332 shares of the real estate investment trust’s stock valued at $4,805,000 after buying an additional 61,739 shares in the last quarter. CrestPoint Capital Management LLC bought a new position in shares of Rayonier in the fourth quarter valued at $851,000. Prudential Financial Inc. grew its stake in shares of Rayonier by 54.4% in the third quarter. Prudential Financial Inc. now owns 846,146 shares of the real estate investment trust’s stock valued at $24,445,000 after buying an additional 298,040 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Rayonier in the third quarter valued at $1,039,000. 84.27% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, March 6th. Citigroup assumed coverage on shares of Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 target price for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $30.00 target price on shares of Rayonier in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.00.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.11. Rayonier had a return on equity of 4.96% and a net margin of 18.64%. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. equities research analysts expect that Rayonier Inc. will post 0.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, March 15th. Rayonier’s dividend payout ratio is 86.21%.
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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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