HighTower Advisors LLC grew its position in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 61.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,706 shares of the real estate investment trust’s stock after buying an additional 53,087 shares during the quarter. HighTower Advisors LLC’s holdings in Rayonier were worth $3,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hartford Financial Management Inc. lifted its holdings in shares of Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 575 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,073 shares during the period. Allworth Financial LP lifted its holdings in shares of Rayonier by 134.8% during the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 1,641 shares during the period. Blue Trust Inc. lifted its holdings in shares of Rayonier by 87.4% during the 4th quarter. Blue Trust Inc. now owns 3,585 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 1,672 shares during the period. Finally, Optiver Holding B.V. bought a new position in shares of Rayonier during the 3rd quarter valued at $86,000. 89.12% of the stock is owned by institutional investors.
Rayonier Price Performance
Shares of Rayonier stock opened at $20.89 on Friday. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.33. The stock’s fifty day moving average is $20.72 and its 200 day moving average is $21.66. The stock has a market cap of $6.28 billion, a P/E ratio of 6.92 and a beta of 0.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53.
Rayonier Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Rayonier’s dividend payout ratio (DPR) is currently 34.44%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $26.00 to $28.00 in a report on Friday, February 13th. BMO Capital Markets lowered their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada set a $24.00 target price on Rayonier in a report on Thursday, April 16th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.80.
Check Out Our Latest Stock Report on Rayonier
Insider Buying and Selling
In related news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.84% of the company’s stock.
Rayonier 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.
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