Janus Henderson Group PLC grew its holdings in Rayonier Inc. (NYSE:RYN) by 61.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,440 shares of the real estate investment trust’s stock after buying an additional 206,596 shares during the period. Janus Henderson Group PLC owned 0.42% of Rayonier worth $18,308,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RYN. Putnam Investments LLC acquired a new stake in Rayonier during the 2nd quarter worth approximately $3,399,000. Federated Investors Inc. PA lifted its holdings in Rayonier by 25.4% during the 2nd quarter. Federated Investors Inc. PA now owns 100,899 shares of the real estate investment trust’s stock worth $3,904,000 after purchasing an additional 20,443 shares during the last quarter. BlackRock Inc. lifted its holdings in Rayonier by 4.5% during the 2nd quarter. BlackRock Inc. now owns 13,594,331 shares of the real estate investment trust’s stock worth $525,964,000 after purchasing an additional 580,100 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in Rayonier during the 2nd quarter worth approximately $228,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Rayonier by 3.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 50,088 shares of the real estate investment trust’s stock worth $1,938,000 after purchasing an additional 1,753 shares during the last quarter. 84.72% of the stock is owned by institutional investors.
Separately, ValuEngine raised Rayonier from a “hold” rating to a “buy” rating in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $36.50.
NYSE:RYN opened at $30.73 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of 32.75, a PEG ratio of 7.88 and a beta of 0.47. The company has a quick ratio of 2.54, a current ratio of 2.87 and a debt-to-equity ratio of 0.57. Rayonier Inc. has a 1-year low of $29.27 and a 1-year high of $39.73.
Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.12. The business had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $179.87 million. Rayonier had a return on equity of 7.34% and a net margin of 18.48%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. As a group, equities research analysts forecast that Rayonier Inc. will post 0.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, December 14th. This represents a $1.08 annualized dividend and a yield of 3.51%. Rayonier’s payout ratio is currently 166.15%.
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Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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