Candriam Luxembourg S.C.A. purchased a new position in Rayonier Inc. (NYSE:RYN) in the 1st quarter, Holdings Channel reports. The fund purchased 15,000 shares of the real estate investment trust’s stock, valued at approximately $473,000.
A number of other institutional investors have also bought and sold shares of RYN. Norges Bank bought a new stake in Rayonier in the fourth quarter worth $52,001,000. Vanguard Group Inc lifted its stake in Rayonier by 9.9% in the third quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after purchasing an additional 1,773,986 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Rayonier by 2,669.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,418,448 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,367,222 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Rayonier in the first quarter worth $20,780,000. Finally, Deutsche Bank AG lifted its stake in Rayonier by 135.0% in the fourth quarter. Deutsche Bank AG now owns 561,375 shares of the real estate investment trust’s stock worth $15,543,000 after purchasing an additional 322,457 shares during the last quarter. 86.55% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Tuesday, April 16th. Seaport Global Securities assumed coverage on shares of Rayonier in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $31.74 price target for the company. Finally, BMO Capital Markets raised shares of Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 price target for the company in a research note on Friday, February 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Rayonier presently has a consensus rating of “Hold” and an average target price of $30.91.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. The firm had revenue of $191.50 million during the quarter, compared to the consensus estimate of $184.31 million. Rayonier had a net margin of 10.75% and a return on equity of 5.16%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that Rayonier Inc. will post 0.54 earnings per share for the current year.
In other news, CFO Mark Mchugh sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $32.62, for a total transaction of $326,200.00. Following the completion of the transaction, the chief financial officer now directly owns 61,613 shares of the company’s stock, valued at $2,009,816.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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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