Sankala Group LLC purchased a new position in Rayonier Inc. (NYSE:RYN – Free Report) in the fourth quarter, Holdings Channel reports. The fund purchased 43,214 shares of the real estate investment trust’s stock, valued at approximately $929,000. Rayonier accounts for approximately 0.8% of Sankala Group LLC’s portfolio, making the stock its 27th biggest position.
Several other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada increased its stake in Rayonier by 29.6% in the 1st quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after buying an additional 36,344 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Rayonier in the 1st quarter worth approximately $501,000. United Services Automobile Association acquired a new stake in shares of Rayonier during the 1st quarter valued at $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 buying an additional 130,985 shares during the period. Finally, Invesco Ltd. grew its holdings 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 valued at $19,157,000 after acquiring an additional 124,574 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Trading Down 0.2%
Shares of RYN opened at $20.93 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33. The firm has a market capitalization of $6.30 billion, a PE ratio of 6.93 and a beta of 0.88. The stock’s fifty day simple moving average is $20.87 and its 200-day simple moving average is $21.57.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. Rayonier’s dividend payout ratio is 34.44%.
Insider Activity
In other 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 in the company, valued at $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. 0.85% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on RYN shares. BMO Capital Markets reduced their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Citigroup decreased their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research note on Thursday, April 16th. One investment 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 stock. According to MarketBeat, Rayonier has a consensus rating of “Hold” and an average price target of $24.80.
Check Out Our Latest Analysis on RYN
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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