State of Alaska Department of Revenue Has $1.86 Million Stake in Rayonier Inc. (RYN)

State of Alaska Department of Revenue lessened its position in Rayonier Inc. (NYSE:RYN) by 11.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,977 shares of the real estate investment trust’s stock after selling 7,404 shares during the period. State of Alaska Department of Revenue’s holdings in Rayonier were worth $1,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYN. Qube Research & Technologies Ltd bought a new position in shares of Rayonier in the second quarter worth approximately $108,000. Interactive Financial Advisors lifted its stake in shares of Rayonier by 114.9% in the second quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,713 shares in the last quarter. Sfmg LLC bought a new position in shares of Rayonier in the second quarter worth approximately $200,000. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Rayonier in the second quarter worth approximately $204,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Rayonier in the first quarter worth approximately $217,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

RYN opened at $30.28 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.37 and a quick ratio of 2.14. Rayonier Inc. has a twelve month low of $28.93 and a twelve month high of $39.73. The company has a market cap of $3.97 billion, a PE ratio of 46.58, a P/E/G ratio of 8.94 and a beta of 0.16.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Rayonier had a net margin of 19.12% and a return on equity of 7.47%. The firm had revenue of $245.90 million during the quarter, compared to analysts’ expectations of $193.04 million. During the same period in the previous year, the company earned $0.20 earnings per share. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, research analysts predict that Rayonier Inc. will post 0.69 EPS for the current fiscal year.

Several research firms have recently weighed in on RYN. BMO Capital Markets cut shares of Rayonier from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 18th. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.40.

About Rayonier

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 June 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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