Bollard Group LLC Sells 27,276 Shares of Rayonier Inc. $RYN

Bollard Group LLC reduced its stake in Rayonier Inc. (NYSE:RYN) by 73.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 9,766 shares of the real estate investment trust’s stock after selling 27,276 shares during the period. Bollard Group LLC’s holdings in Rayonier were worth $201,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock worth $4,436,000 after buying an additional 36,344 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Rayonier in the first quarter valued at about $501,000. United Services Automobile Association bought a new position in shares of Rayonier during the 1st quarter valued at approximately $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock valued at $15,463,000 after acquiring an additional 130,985 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Rayonier by 16.9% during the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock worth $19,157,000 after purchasing an additional 124,574 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE RYN opened at $21.59 on Friday. The firm has a market cap of $6.49 billion, a P/E ratio of 7.15 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $21.14 and its 200-day moving average is $21.52. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. During the same period last year, the firm earned ($0.02) EPS. Rayonier’s revenue for the quarter was up 233.9% on a year-over-year basis. Sell-side analysts predict that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RYN shares. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Citigroup lowered their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. BMO Capital Markets dropped their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada set a $24.00 price target on Rayonier in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rayonier has a consensus rating of “Hold” and a consensus target price of $24.60.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.