Family Management Corp purchased a new position in Rayonier Inc. (NYSE:RYN – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,483 shares of the real estate investment trust's stock, valued at approximately $431,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in RYN. Prospera Financial Services Inc purchased a new position in shares of Rayonier in the first quarter worth approximately $32,000. UMB Bank N A MO purchased a new position in shares of Rayonier in the fourth quarter worth approximately $36,000. Pinebridge Investments L.P. purchased a new position in shares of Rayonier in the fourth quarter worth approximately $113,000. Financial Management Professionals Inc. boosted 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 during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Rayonier by 75.0% in the first quarter. Van ECK Associates Corp now owns 4,523 shares of the real estate investment trust's stock worth $186,000 after buying an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 87.15% of the company's stock.
Get Rayonier alerts:Rayonier Stock Performance
Shares of RYN traded up $0.38 on Monday, reaching $36.24. The company's stock had a trading volume of 13,981 shares, compared to its average volume of 576,413. 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 $5.30 billion, a P/E ratio of 38.55 and a beta of 0.82. The stock's 50 day simple moving average is $36.58 and its two-hundred day simple moving average is $39.16. Rayonier Inc. has a 12-month low of $34.07 and a 12-month high of $45.87.
Rayonier (NYSE:RYN – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.16 earnings per share for the quarter, beating 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 in the prior year, the company earned $0.22 EPS. Research analysts forecast that Rayonier Inc. will post 0.61 earnings per share for the current fiscal year.Rayonier Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, September 15th. Rayonier's dividend payout ratio is currently 120.00%.
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.
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