New York State Teachers Retirement System boosted its holdings in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 82.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 359,816 shares of the real estate investment trust’s stock after buying an additional 162,080 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Rayonier worth $7,419,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of RYN. Strs Ohio boosted its stake in shares of Rayonier by 86.7% during the 1st quarter. Strs Ohio now owns 7,122 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 3,308 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Rayonier in the 1st quarter valued at $85,771,000. Bayban bought a new stake in Rayonier in the 1st quarter valued at $36,000. Inspire Investing LLC lifted its holdings in Rayonier by 15.4% during the 1st quarter. Inspire Investing LLC now owns 24,917 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 3,326 shares during the last quarter. Finally, Comprehensive Money Management Services LLC lifted its holdings in Rayonier by 83.6% during the 1st quarter. Comprehensive Money Management Services LLC now owns 78,485 shares of the real estate investment trust’s stock valued at $1,618,000 after purchasing an additional 35,747 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.
Insider Activity at Rayonier
In related news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Company insiders own 0.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on Rayonier
Rayonier Stock Performance
NYSE:RYN traded up $0.16 during mid-day trading on Tuesday, hitting $21.76. 230,910 shares of the stock were exchanged, compared to its average volume of 2,861,370. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 7.20 and a beta of 0.88. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $21.55. 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 Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33.
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm’s quarterly revenue was up 233.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. As a group, equities analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current fiscal year.
Rayonier Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. Rayonier’s dividend payout ratio is 34.44%.
About Rayonier
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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