Pacer Advisors Inc. increased its position in Rayonier Inc. (NYSE:RYN) by 9.2% during the third quarter, Holdings Channel reports. The fund owned 10,211 shares of the real estate investment trust’s stock after buying an additional 859 shares during the period. Pacer Advisors Inc.’s holdings in Rayonier were worth $271,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 1,568 shares during the period. Creative Planning raised its position in shares of Rayonier by 1.0% in the third quarter. Creative Planning now owns 3,942 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 40 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Rayonier during the third quarter valued at approximately $122,000. Tower Research Capital LLC TRC acquired a new position in shares of Rayonier during the second quarter valued at approximately $176,000. Finally, LS Investment Advisors LLC raised its position in shares of Rayonier by 6.8% in the third quarter. LS Investment Advisors LLC now owns 7,842 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 497 shares during the period. Institutional investors own 84.51% of the company’s stock.
Rayonier Inc. (NYSE:RYN) traded down 1.36% on Friday, reaching $27.55. 248,804 shares of the company were exchanged. The firm has a market capitalization of $3.38 billion, a PE ratio of 19.44 and a beta of 0.38. Rayonier Inc. has a 12-month low of $18.95 and a 12-month high of $28.47. The stock has a 50 day moving average of $27.26 and a 200 day moving average of $26.91.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.20. The business had revenue of $171.40 million for the quarter, compared to analyst estimates of $153.91 million. Rayonier had a net margin of 24.68% and a return on equity of 5.37%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities analysts anticipate that Rayonier Inc. will post $0.55 EPS for the current year.
Several research analysts have recently commented on RYN shares. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, November 4th. RBC Capital Markets restated a “hold” rating and set a $27.00 price target on shares of Rayonier in a research note on Friday, January 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.80.
In other news, VP Mark R. Bridwell sold 2,114 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $26.84, for a total value of $56,739.76. Following the sale, the vice president now owns 14,925 shares of the company’s stock, valued at $400,587. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew G. Wiltshire acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was acquired at an average cost of $26.16 per share, for a total transaction of $104,640.00. Following the transaction, the director now owns 19,356 shares of the company’s stock, valued at $506,352.96. The disclosure for this purchase can be found here. Insiders own 0.58% of the company’s stock.
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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