Rayonier (NYSE:RYN) Issues Earnings Results

Rayonier (NYSE:RYN) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10, FiscalAI reports. The company had revenue of $396.50 million for the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 4.01%. Rayonier’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS.

Rayonier Stock Up 0.9%

NYSE RYN traded up $0.18 during trading on Friday, reaching $21.61. The company’s stock had a trading volume of 1,060,294 shares, compared to its average volume of 2,817,135. The stock has a market capitalization of $6.50 billion, a PE ratio of 48.03 and a beta of 0.87. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The business has a 50-day moving average price of $21.39 and a 200-day moving average price of $21.43. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 231.11%.

Hedge Funds Weigh In On Rayonier

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Rayonier by 29.6% during the 1st quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after acquiring an additional 36,344 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Rayonier in the first quarter worth approximately $501,000. United Services Automobile Association bought a new stake in Rayonier in the first quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock worth $15,463,000 after purchasing an additional 130,985 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Rayonier by 16.9% during the second quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock worth $19,157,000 after purchasing an additional 124,574 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on RYN shares. Truist Financial dropped their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research note on Thursday, April 16th. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. BMO Capital Markets reduced their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Finally, Citigroup dropped their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rayonier currently has a consensus rating of “Hold” and an average target price of $24.60.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.