Third Avenue Management Lowers stake in Rayonier (RYN)

Rayonier (RYN) : Third Avenue Management reduced its stake in Rayonier by 20.62% during the most recent quarter end. The investment management company now holds a total of 4,096,070 shares of Rayonier which is valued at $103.8 Million after selling 1,064,200 shares in Rayonier , the firm said in a disclosure report filed with the SEC on May 12, 2016.Rayonier makes up approximately 3.96% of Third Avenue Management’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in RYN in the latest quarter, The investment management firm added 10,758 additional shares and now holds a total of 163,834 shares of Rayonier which is valued at $4.2 Million. Rayonier makes up approx 0.04% of Baird Financial Group’s portfolio. Diligent Investors added RYN to its portfolio by purchasing 9,180 company shares during the most recent quarter which is valued at $232,621. Rayonier makes up approx 0.26% of Diligent Investors’s portfolio.Schwab Charles Investment Management Inc reduced its stake in RYN by selling 26,931 shares or 4.69% in the most recent quarter. The Hedge Fund company now holds 546,942 shares of RYN which is valued at $13.8 Million. Rayonier makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.

Rayonier opened for trading at $24.93 and hit $25.47 on the upside on Friday, eventually ending the session at $25.45, with a gain of 2.58% or 0.64 points. The heightened volatility saw the trading volume jump to 4,63,924 shares. Company has a market cap of $3,126 M.

On the company’s financial health, Rayonier reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.08. The company had revenue of $134.80 million for the quarter, compared to analysts expectations of $129.08 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Rayonier Inc. (Rayonier) is a timberland real estate investment trust (REIT). As of December 31 2014 the Company owned leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres) United States Pacific Northwest (372000 acres) and New Zealand (451000 gross acres or 309000 net plantable acres). In addition the Company is engaged in the trading of logs from New Zealand and Australia to Pacific Rim markets primarily to support New Zealand export operations. The Company operates through five segments: Southern Timber Pacific Northwest Timber New Zealand Timber Real Estate and Trading. The Company’s Timber segments own or lease approximately 2.7 million acres of timberlands located in the United States and New Zealand. The Company’s Real Estate segment’s holdings are primarily in the southeastern United States. The Company’s Trading segment consists of log trading activities in New Zealand and Australia.

Leave a Reply

Rayonier - Is it time to Sell?

Top Brokerage Firms are advising their investors on Rayonier. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.