Oppenheimer & Co. Inc. Acquires New Position in Rayonier Inc. $RYN

Oppenheimer & Co. Inc. acquired a new stake in Rayonier Inc. (NYSE:RYN) during the fourth quarter, HoldingsChannel reports. The fund acquired 28,700 shares of the real estate investment trust’s stock, valued at approximately $621,000.

Other institutional investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. bought a new stake in shares of Rayonier during the 3rd quarter valued at $31,000. Parallel Advisors LLC boosted its position in shares of Rayonier by 77.9% in the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,073 shares during the last quarter. Allworth Financial LP boosted its position in shares of Rayonier by 134.8% in the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 1,641 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of Rayonier during the third quarter worth $86,000. Finally, Hantz Financial Services Inc. increased its holdings in Rayonier by 238.7% in the third quarter. Hantz Financial Services Inc. now owns 3,343 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 2,356 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RYN. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $26.00 to $28.00 in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.50.

Rayonier Price Performance

NYSE RYN opened at $20.43 on Friday. The firm’s 50 day moving average is $20.95 and its 200-day moving average is $21.96. The company has a quick ratio of 3.23, a current ratio of 3.26 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.17 billion, a PE ratio of 6.76 and a beta of 0.90. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33.

Rayonier (NYSE:RYN) last released its 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. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business had revenue of $276.80 million during the quarter, compared to the consensus estimate of $280.92 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 233.9% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.26 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. Rayonier’s dividend payout ratio (DPR) is presently 34.10%.

Insider Activity

In related news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Chairman Eric J. Cremers sold 169,200 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $21.44, for a total value of $3,627,648.00. Following the sale, the chairman owned 709,583 shares in the company, valued at $15,213,459.52. The trade was a 19.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is owned by company 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.