Millburn Ridgefield Corp lifted its stake in shares of Rayonier Inc. (NYSE:RYN – Get Rating) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,605 shares of the real estate investment trust's stock after acquiring an additional 788 shares during the quarter. Millburn Ridgefield Corp's holdings in Rayonier were worth $247,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYN. Prospera Financial Services Inc bought a new position in shares of Rayonier in the first quarter worth approximately $32,000. Financial Management Professionals Inc. lifted its holdings in shares of Rayonier by 42.3% in the first quarter. Financial Management Professionals Inc. now owns 3,912 shares of the real estate investment trust's stock worth $161,000 after buying an additional 1,162 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Rayonier by 75.0% during the first quarter. Van ECK Associates Corp now owns 4,523 shares of the real estate investment trust's stock valued at $186,000 after purchasing an additional 1,938 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Rayonier in the 1st quarter worth approximately $230,000. Finally, CENTRAL TRUST Co increased its position in Rayonier by 11.5% in the first quarter. CENTRAL TRUST Co now owns 5,797 shares of the real estate investment trust's stock worth $239,000 after purchasing an additional 600 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.
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Rayonier Stock Performance
Rayonier stock opened at $30.49 on Tuesday. The company's 50-day moving average price is $35.85 and its 200-day moving average price is $38.57. The company has a quick ratio of 3.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.46 billion, a PE ratio of 32.10 and a beta of 0.82. Rayonier Inc. has a twelve month low of $30.00 and a twelve month high of $45.87.
Rayonier (NYSE:RYN – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Rayonier had a net
margin of 12.59% and a return on equity of 5.78%. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Rayonier Inc. will post 0.61 EPS for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.74%. Rayonier's dividend payout ratio is 120.00%.
Rayonier Company Profile
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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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.
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