Baird Financial Group Inc. reduced its position in shares of Rayonier Inc. (NYSE:RYN) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,869 shares of the real estate investment trust’s stock after selling 7,599 shares during the period. Baird Financial Group Inc. owned 0.12% of Rayonier worth $3,960,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RYN. Spinnaker Trust boosted its stake in shares of Rayonier by 1.8% in the second quarter. Spinnaker Trust now owns 34,499 shares of the real estate investment trust’s stock worth $905,000 after buying an additional 624 shares in the last quarter. Nuance Investments LLC boosted its stake in Rayonier by 19.3% in the second quarter. Nuance Investments LLC now owns 58,447 shares of the real estate investment trust’s stock worth $1,534,000 after buying an additional 9,470 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Rayonier by 6.7% in the second quarter. Neuberger Berman Group LLC now owns 22,149 shares of the real estate investment trust’s stock worth $581,000 after buying an additional 1,400 shares in the last quarter. Mosaic Financial Partners Inc. boosted its stake in Rayonier by 1.3% in the second quarter. Mosaic Financial Partners Inc. now owns 171,401 shares of the real estate investment trust’s stock worth $4,498,000 after buying an additional 2,237 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Rayonier by 6.9% in the second quarter. BlackRock Advisors LLC now owns 68,070 shares of the real estate investment trust’s stock worth $1,786,000 after buying an additional 4,390 shares in the last quarter. Hedge funds and other institutional investors own 84.66% of the company’s stock.
Rayonier Inc. (NYSE:RYN) traded down 0.49% during mid-day trading on Friday, hitting $28.25. 39,778 shares of the stock were exchanged. The company has a market capitalization of $3.46 billion, a PE ratio of 16.34 and a beta of 0.37. The stock’s 50-day moving average is $27.80 and its 200 day moving average is $27.06. Rayonier Inc. has a 52 week low of $20.76 and a 52 week high of $29.36.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The business earned $142.80 million during the quarter, compared to analyst estimates of $127.77 million. Rayonier had a net margin of 26.89% and a return on equity of 4.85%. Rayonier’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts anticipate that Rayonier Inc. will post $0.46 EPS for the current year.
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A number of analysts have recently issued reports on the stock. DA Davidson cut shares of Rayonier from a “buy” rating to a “neutral” rating in a research note on Thursday. Vertical Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Monday, January 30th. Raymond James Financial, Inc. upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating in a research note on Monday, January 9th. Finally, RBC Capital Markets restated a “hold” rating and set a $27.00 target price on shares of Rayonier in a research note on Friday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.00.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. Its Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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