Wells Fargo & Company MN lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,264 shares of the real estate investment trust’s stock after selling 494,873 shares during the period. Wells Fargo & Company MN owned 0.44% of Rayonier worth $17,880,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of RYN. Acadian Asset Management LLC purchased a new stake in Rayonier during the fourth quarter worth $168,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Rayonier by 46.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 2,229 shares during the period. Gamble Jones Investment Counsel purchased a new stake in Rayonier during the fourth quarter worth $237,000. Timber Hill LLC purchased a new stake in Rayonier during the third quarter worth $246,000. Finally, Parametrica Management Ltd purchased a new stake in Rayonier during the fourth quarter worth $252,000. Institutional investors own 84.27% of the company’s stock.
RYN has been the subject of a number of analyst reports. Royal Bank of Canada restated a “hold” rating and set a $29.00 target price on shares of Rayonier in a report on Wednesday, November 15th. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Tuesday, February 20th. Finally, Citigroup started coverage on Rayonier in a report on Thursday, March 1st. They set a “neutral” rating and a $37.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Rayonier currently has a consensus rating of “Hold” and a consensus price target of $34.00.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.09 by $0.11. The firm had revenue of $186.30 million during the quarter, compared to analyst estimates of $165.73 million. Rayonier had a return on equity of 4.96% and a net margin of 18.64%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. sell-side analysts expect that Rayonier Inc. will post 0.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. Rayonier’s dividend payout ratio (DPR) 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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