PNC Financial Services Group Inc. lowered its holdings in Rayonier Inc. (NYSE:RYN – Get Rating) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,728 shares of the real estate investment trust's stock after selling 2,424 shares during the period. PNC Financial Services Group Inc.'s holdings in Rayonier were worth $1,386,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Financial Services Inc purchased a new position in Rayonier in the first quarter worth $32,000. UMB Bank N A MO bought a new position in Rayonier in the 4th quarter worth about $36,000. Pinebridge Investments L.P. bought a new position in Rayonier in the 4th quarter worth about $113,000. Financial Management Professionals Inc. increased its stake in Rayonier by 42.3% in the 1st quarter. Financial Management Professionals Inc. now owns 3,912 shares of the real estate investment trust's stock worth $161,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Rayonier by 75.0% in the 1st quarter. Van ECK Associates Corp now owns 4,523 shares of the real estate investment trust's stock worth $186,000 after acquiring an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 87.15% of the company's stock.
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Shares of NYSE RYN opened at $35.19 on Thursday. The firm has a market capitalization of $5.15 billion, a P/E ratio of 37.04 and a beta of 0.82. 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 stock's 50-day simple moving average is $36.67 and its two-hundred day simple moving average is $39.18. Rayonier Inc. has a twelve month low of $34.07 and a twelve month high of $45.87.
Rayonier (NYSE:RYN – Get Rating) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the company posted $0.22 EPS. As a group, equities analysts anticipate that Rayonier Inc. will post 0.64 EPS for the current fiscal year.Rayonier Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders 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 dividend yield of 3.24%. Rayonier's dividend payout ratio (DPR) is presently 120.00%.
Rayonier 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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