Rayonier Inc. $RYN Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in Rayonier Inc. (NYSE:RYN) by 1,594.2% in the first quarter, Holdings Channel reports. The fund owned 600,398 shares of the real estate investment trust’s stock after buying an additional 564,960 shares during the period. Sei Investments Co.’s holdings in Rayonier were worth $12,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC increased its position in shares of Rayonier by 3.8% in the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 469 shares during the last quarter. Bfsg LLC lifted its position in shares of Rayonier by 0.6% during the 4th quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock worth $1,693,000 after purchasing an additional 492 shares during the last quarter. Quarry LP lifted its position in shares of Rayonier by 19.8% during the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 498 shares during the last quarter. Greenwood Gearhart Inc. lifted its position in shares of Rayonier by 4.9% during the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 502 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its stake in shares of Rayonier by 49.7% during the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 575 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank Of Canada set a $24.00 target price on Rayonier in a report on Thursday, April 16th. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Citigroup cut their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, BMO Capital Markets decreased their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rayonier has a consensus rating of “Hold” and a consensus target price of $24.60.

Rayonier Price Performance

Shares of NYSE:RYN opened at $21.83 on Friday. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. The firm has a market capitalization of $6.57 billion, a P/E ratio of 7.23 and a beta of 0.88. 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 company’s fifty day moving average price is $21.30 and its 200 day moving average price is $21.50.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts predict that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is presently 34.44%.

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.