Bridgefront Capital LLC Acquires New Position in Rayonier Inc. (NYSE:RYN)

Bridgefront Capital LLC acquired a new stake in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 14,569 shares of the real estate investment trust’s stock, valued at approximately $523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Timber Creek Capital Management LLC lifted its holdings in Rayonier by 16.2% in the second quarter. Timber Creek Capital Management LLC now owns 181,634 shares of the real estate investment trust’s stock valued at $6,526,000 after buying an additional 25,310 shares during the period. CWA Asset Management Group LLC acquired a new position in Rayonier in the first quarter valued at approximately $4,665,000. New York State Common Retirement Fund lifted its holdings in Rayonier by 3.0% in the second quarter. New York State Common Retirement Fund now owns 188,400 shares of the real estate investment trust’s stock valued at $6,769,000 after buying an additional 5,500 shares during the period. State of Alaska Department of Revenue lifted its holdings in Rayonier by 9.3% in the second quarter. State of Alaska Department of Revenue now owns 79,662 shares of the real estate investment trust’s stock valued at $2,861,000 after buying an additional 6,798 shares during the period. Finally, CoreCommodity Management LLC lifted its holdings in Rayonier by 41.2% in the first quarter. CoreCommodity Management LLC now owns 36,374 shares of the real estate investment trust’s stock valued at $1,173,000 after buying an additional 10,617 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Tuesday, July 13th.

In other news, CAO April J. Tice sold 925 shares of the stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $37.75, for a total transaction of $34,918.75. Following the completion of the sale, the chief accounting officer now owns 12,653 shares of the company’s stock, valued at $477,650.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shelby L. Pyatt sold 9,076 shares of the firm’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $38.23, for a total transaction of $346,975.48. Following the completion of the transaction, the vice president now directly owns 40,410 shares of the company’s stock, valued at approximately $1,544,874.30. The disclosure for this sale can be found here. Insiders have sold 16,244 shares of company stock valued at $611,012 in the last three months. 0.98% of the stock is owned by insiders.

Shares of NYSE:RYN opened at $36.90 on Friday. Rayonier Inc. has a 52 week low of $25.05 and a 52 week high of $38.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.62 and a current ratio of 1.71. The company has a market capitalization of $5.21 billion, a PE ratio of 67.09 and a beta of 0.94. The company has a 50 day moving average price of $36.91 and a two-hundred day moving average price of $36.09.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.12. Rayonier had a net margin of 8.74% and a return on equity of 3.16%. The firm had revenue of $291.40 million during the quarter, compared to the consensus estimate of $211.33 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 49.0% on a year-over-year basis. On average, sell-side analysts forecast that Rayonier Inc. will post 0.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Wednesday, September 15th. Rayonier’s dividend payout ratio is 432.00%.

Rayonier Company Profile

Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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