Rayonier (NYSE:RYN) Hits New 12-Month Low – Time to Sell?

Rayonier Inc. (NYSE:RYN)’s stock price reached a new 52-week low on Thursday . The company traded as low as $20.00 and last traded at $20.0690, with a volume of 453906 shares. The stock had previously closed at $20.22.

Analyst Ratings Changes

A number of research firms have recently issued reports on RYN. Truist Financial lowered their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $26.00 to $28.00 in a report on Friday, February 13th. Royal Bank Of Canada lifted their price target on shares of Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus target price of $26.00.

Rayonier Price Performance

The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.07 billion, a P/E ratio of 6.59 and a beta of 0.98. The company has a 50 day moving average price of $22.47 and a 200 day moving average price of $23.21.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The business had revenue of $117.50 million for the quarter, compared to analysts’ expectations of $108.71 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. On average, equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.2%. Rayonier’s dividend payout ratio is presently 34.10%.

Insider Activity at Rayonier

In related news, Chairman Eric J. Cremers sold 169,200 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the transaction, the chairman owned 709,583 shares in the company, valued at approximately $15,213,459.52. This represents a 19.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in shares of Rayonier by 167.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,721 shares of the real estate investment trust’s stock valued at $340,000 after purchasing an additional 9,840 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Rayonier in the 4th quarter valued at $285,000. Sankala Group LLC bought a new stake in Rayonier in the 4th quarter valued at $929,000. Invesco Ltd. grew its holdings in Rayonier by 5.0% in the 4th quarter. Invesco Ltd. now owns 811,944 shares of the real estate investment trust’s stock valued at $17,579,000 after buying an additional 38,763 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Rayonier in the 4th quarter valued at $215,000. Institutional investors own 89.12% of the company’s stock.

About Rayonier

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.