Texas Permanent School Fund increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,921 shares of the real estate investment trust’s stock after acquiring an additional 3,199 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Rayonier worth $2,771,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Clean Yield Group acquired a new stake in Rayonier during the 4th quarter worth $31,000. Doyle Wealth Management acquired a new stake in Rayonier during the 4th quarter worth $50,000. Pearl River Capital LLC acquired a new stake in Rayonier during the 4th quarter worth $81,000. Ipswich Investment Management Co. Inc. acquired a new stake in Rayonier during the 4th quarter worth $89,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Rayonier by 351.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,515 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
RYN has been the topic of several research analyst reports. BMO Capital Markets upgraded shares of Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 price target on the stock in a research note on Friday, February 8th. TheStreet lowered shares of Rayonier from a “b” rating to a “c+” rating in a research note on Thursday, February 7th. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Seaport Global Securities started coverage on shares of Rayonier in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $31.74 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Rayonier currently has a consensus rating of “Hold” and a consensus price target of $30.91.
NYSE RYN traded up $0.17 during trading on Thursday, reaching $31.36. The company’s stock had a trading volume of 4,477 shares, compared to its average volume of 610,046. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.61 and a current ratio of 2.95. The firm has a market cap of $4.07 billion, a PE ratio of 39.51 and a beta of 0.68. Rayonier Inc. has a twelve month low of $26.30 and a twelve month high of $39.73.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $191.50 million for the quarter, compared to analyst estimates of $184.31 million. Rayonier had a net margin of 10.75% and a return on equity of 5.16%. Rayonier’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Research analysts predict that Rayonier Inc. will post 0.54 earnings per share for the current year.
In other Rayonier news, CFO Mark Mchugh sold 10,000 shares of Rayonier stock in a transaction on Monday, May 6th. The shares were sold at an average price of $32.62, for a total value of $326,200.00. Following the transaction, the chief financial officer now directly owns 61,613 shares in the company, valued at $2,009,816.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.
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Rayonier Company Profile
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 December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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