Concentric Capital Strategies LP Trims Holdings in Rayonier Inc. $RYN

Concentric Capital Strategies LP lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 77.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 227,288 shares of the real estate investment trust’s stock after selling 787,556 shares during the period. Concentric Capital Strategies LP’s holdings in Rayonier were worth $4,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYN. Norges Bank acquired a new position in Rayonier during the fourth quarter worth $313,806,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after buying an additional 3,947,226 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of Rayonier in the fourth quarter valued at $20,813,000. Qube Research & Technologies Ltd raised its holdings in shares of Rayonier by 1,088.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 790,239 shares of the real estate investment trust’s stock valued at $17,528,000 after buying an additional 723,732 shares during the period. Finally, Cohen & Steers Inc. lifted its stake in Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock worth $293,332,000 after acquiring an additional 717,021 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Trading Down 2.7%

NYSE RYN opened at $20.75 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The firm’s fifty day moving average price is $20.87 and its 200 day moving average price is $21.58. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 6.87 and a beta of 0.88. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, sell-side analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. Rayonier’s dividend payout ratio is 34.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. BMO Capital Markets reduced their price target on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Citigroup dropped their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.80.

Insider Transactions at Rayonier

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.84% of the stock is owned by corporate insiders.

Rayonier Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.