Van ECK Associates Corp grew its stake in shares of Rayonier Inc. (NYSE:RYN – Get Rating) by 75.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,523 shares of the real estate investment trust's stock after buying an additional 1,938 shares during the quarter. Van ECK Associates Corp's holdings in Rayonier were worth $186,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. State of Alaska Department of Revenue grew its stake in shares of Rayonier by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 93,651 shares of the real estate investment trust's stock worth $3,849,000 after purchasing an additional 235 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Rayonier by 0.7% in the first quarter. Commonwealth Equity Services LLC now owns 38,973 shares of the real estate investment trust's stock worth $1,602,000 after purchasing an additional 257 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Rayonier by 1.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 24,144 shares of the real estate investment trust's stock worth $993,000 after purchasing an additional 414 shares during the last quarter. Truist Financial Corp grew its stake in shares of Rayonier by 1.7% in the first quarter. Truist Financial Corp now owns 30,358 shares of the real estate investment trust's stock worth $1,249,000 after purchasing an additional 522 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Rayonier by 7.4% in the first quarter. Janney Montgomery Scott LLC now owns 7,661 shares of the real estate investment trust's stock worth $315,000 after purchasing an additional 527 shares during the last quarter. 90.40% of the stock is owned by institutional investors.
Get Rayonier alerts:Rayonier Stock Down 3.3 %
NYSE RYN opened at $36.67 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.41 and a quick ratio of 3.18. The stock has a market capitalization of $5.36 billion, a PE ratio of 38.60 and a beta of 0.81. Rayonier Inc. has a 1 year low of $34.07 and a 1 year high of $45.87. The business's 50-day moving average is $36.95 and its 200 day moving average is $39.33.
Rayonier (NYSE:RYN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Rayonier had a return on equity of 5.78% and a net margin of 12.59%. During the same period in the previous year, the firm earned $0.22 EPS. Sell-side analysts forecast that Rayonier Inc. will post 0.64 earnings per share for the current year.Rayonier Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.14 annualized dividend and a yield of 3.11%. Rayonier's payout ratio is 120.00%.
Insider Buying and Selling at Rayonier
In other news, Director Meridee Moore acquired 12,000 shares of the business's stock in a transaction on Tuesday, May 31st. The shares were acquired at an average cost of $41.26 per share, with a total value of $495,120.00. Following the transaction, the director now owns 77,000 shares in the company, valued at approximately $3,177,020. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% of the company's stock.
About Rayonier
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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.
Further Reading
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