Rayonier (RYN) : Third Avenue Management reduced its stake in Rayonier by 5.16% during the most recent quarter end. The investment management company now holds a total of 3,884,570 shares of Rayonier which is valued at $106,320,681 after selling 211,500 shares in Rayonier , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Rayonier makes up approximately 4.49% of Third Avenue Management’s portfolio.
Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in RYN in the latest quarter, The investment management firm added 102,467 additional shares and now holds a total of 206,971 shares of Rayonier which is valued at $5,664,796. Rayonier makes up approx 0.01% of Credit Suisse Ag’s portfolio.Ameritas Investment Partners boosted its stake in RYN in the latest quarter, The investment management firm added 541 additional shares and now holds a total of 19,374 shares of Rayonier which is valued at $530,266. Rayonier makes up approx 0.03% of Ameritas Investment Partners’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in RYN in the latest quarter, The investment management firm added 995 additional shares and now holds a total of 42,337 shares of Rayonier which is valued at $1,138,442. Rayonier makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.
Rayonier opened for trading at $27.28 and hit $27.54 on the upside on Tuesday, eventually ending the session at $27.44, with a gain of 1.18% or 0.32 points. The heightened volatility saw the trading volume jump to 2,41,669 shares. Company has a market cap of $3,371 M.
On the company’s financial health, Rayonier reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.03. The company had revenue of $132.10 million for the quarter, compared to analysts expectations of $116.99 million. The company’s revenue was up 14.1% compared to the same quarter last year.
Investors should note that on Jul 22, 2016, Rayonier announced a cash dividend of $0.2500. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.
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 Companys Timber segments own or lease approximately 2.7 million acres of timberlands located in the United States and New Zealand. The Companys Real Estate segments holdings are primarily in the southeastern United States. The Companys Trading segment consists of log trading activities in New Zealand and Australia.