Short Interest in Rayonier Inc. (RYN) Drops By 45.1%
Rayonier Inc. (NYSE:RYN) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 2,177,708 shares, a decline of 45.1% from the July 13th total of 3,966,177 shares. Based on an average daily trading volume, of 1,245,803 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.7% of the company’s shares are short sold.
A number of hedge funds and other institutional investors have recently modified their holdings of RYN. Qube Research & Technologies Ltd acquired a new position in Rayonier during the second quarter valued at approximately $108,000. Synovus Financial Corp acquired a new position in Rayonier during the first quarter valued at approximately $124,000. Interactive Financial Advisors grew its holdings in Rayonier by 114.9% during the second quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 1,713 shares during the period. Quantbot Technologies LP acquired a new position in Rayonier during the first quarter valued at approximately $138,000. Finally, TLP Group LLC grew its holdings in Rayonier by 1,819.3% during the first quarter. TLP Group LLC now owns 5,681 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 5,385 shares during the period. Hedge funds and other institutional investors own 85.95% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Raymond James set a $40.00 price target on shares of Rayonier and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Finally, BMO Capital Markets cut shares of Rayonier from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $35.40.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.10. The firm had revenue of $245.90 million during the quarter, compared to analysts’ expectations of $193.04 million. Rayonier had a net margin of 19.12% and a return on equity of 7.47%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. equities research analysts predict that Rayonier will post 0.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, September 13th. Rayonier’s dividend payout ratio is currently 166.15%.
Rayonier Company Profile
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of March 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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