SG Americas Securities LLC reduced its holdings in Rayonier (NYSE:RYN) by 23.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 55,118 shares of the real estate investment trust’s stock after selling 16,934 shares during the quarter. SG Americas Securities LLC’s holdings in Rayonier were worth $1,939,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of RYN. Paloma Partners Management Co acquired a new stake in Rayonier in the 4th quarter valued at $12,797,000. Impax Asset Management LTD increased its stake in shares of Rayonier by 16.6% during the 4th quarter. Impax Asset Management LTD now owns 1,316,088 shares of the real estate investment trust’s stock worth $41,628,000 after purchasing an additional 187,483 shares during the last quarter. BlackRock Inc. increased its stake in shares of Rayonier by 1.4% during the 4th quarter. BlackRock Inc. now owns 12,649,731 shares of the real estate investment trust’s stock worth $400,113,000 after purchasing an additional 178,076 shares during the last quarter. Chicago Equity Partners LLC increased its stake in shares of Rayonier by 762.6% during the 4th quarter. Chicago Equity Partners LLC now owns 177,773 shares of the real estate investment trust’s stock worth $5,623,000 after purchasing an additional 157,163 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Rayonier by 14.6% during the 4th quarter. American Century Companies Inc. now owns 769,986 shares of the real estate investment trust’s stock worth $24,355,000 after purchasing an additional 97,897 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.
Several research analysts have recently weighed in on RYN shares. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, February 13th. Citigroup started coverage on shares of Rayonier in a research note on Thursday, March 1st. They set a “neutral” rating and a $37.00 price objective on the stock. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Raymond James set a $40.00 price objective on shares of Rayonier and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.40.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.15. Rayonier had a net margin of 19.08% and a return on equity of 6.92%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $180.82 million. During the same quarter in the prior year, the business earned $0.05 EPS. Rayonier’s quarterly revenue was up 4.5% on a year-over-year basis. equities analysts expect that Rayonier will post 0.71 earnings per share for the current year.
Rayonier Company Profile
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, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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