Toronto Dominion Bank Trims Stock Position in Rayonier Inc. (NYSE:RYN)

Toronto Dominion Bank lessened its holdings in shares of Rayonier Inc. (NYSE:RYN) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,207 shares of the real estate investment trust’s stock after selling 2,252 shares during the period. Toronto Dominion Bank’s holdings in Rayonier were worth $757,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in Rayonier in the 2nd quarter worth about $27,000. Northwestern Mutual Wealth Management Co. boosted its stake in Rayonier by 258.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,074 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 774 shares in the last quarter. FMR LLC raised its position in Rayonier by 119.5% in the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 802 shares during the last quarter. Moors & Cabot Inc. purchased a new position in Rayonier in the 3rd quarter worth about $57,000. Finally, BDO Wealth Advisors LLC raised its position in Rayonier by 103.2% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,770 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 899 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

RYN stock opened at $39.30 on Friday. Rayonier Inc. has a 1-year low of $30.27 and a 1-year high of $41.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.63. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 36.06 and a beta of 0.94. The business has a 50 day simple moving average of $39.20 and a two-hundred day simple moving average of $37.76.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.21. Rayonier had a return on equity of 5.45% and a net margin of 14.63%. During the same quarter in the prior year, the company posted $0.06 earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Friday, December 17th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, December 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.75%. Rayonier’s dividend payout ratio is currently 99.08%.

In related news, VP Mark R. Bridwell sold 842 shares of the firm’s stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $40.70, for a total value of $34,269.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mchugh sold 5,000 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $40.50, for a total value of $202,500.00. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

RYN has been the subject of several research reports. Zacks Investment Research lowered shares of Rayonier from a “strong-buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research report on Tuesday, January 4th. BMO Capital Markets reissued a “hold” rating and issued a $36.00 target price on shares of Rayonier in a report on Monday, November 8th. Finally, Royal Bank of Canada increased their target price on shares of Rayonier from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, November 5th.

About Rayonier

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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