Rayonier (NYSE:RYN) Sets New 52-Week Low – What’s Next?

Rayonier Inc. (NYSE:RYN) hit a new 52-week low on Wednesday. The company traded as low as $18.49 and last traded at $18.5650, with a volume of 892283 shares changing hands. The stock had previously closed at $18.58.

Analyst Ratings Changes

Several equities analysts recently commented on RYN shares. Citigroup increased their target price on shares of Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Truist Financial cut their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.80.

Rayonier Stock Performance

The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The company has a market cap of $5.52 billion, a P/E ratio of 41.28 and a beta of 0.87. The business has a fifty day moving average of $20.82 and a 200 day moving average of $20.89.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The company’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts predict that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Wednesday, September 16th. Rayonier’s payout ratio is 231.11%.

Insider Buying and Selling

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the sale, the executive vice president owned 131,661 shares in the company, valued at approximately $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently modified their holdings of RYN. Bank of America Corp DE grew its position in Rayonier by 141.8% in the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock worth $33,420,000 after purchasing an additional 950,473 shares during the period. Fieldview Capital Management LLC purchased a new stake in Rayonier during the fourth quarter valued at approximately $1,936,000. World Investment Advisors bought a new position in Rayonier in the first quarter worth approximately $6,980,000. Vestcor Inc raised its position in Rayonier by 3,590.1% in the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock worth $2,776,000 after acquiring an additional 124,756 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after acquiring an additional 1,463,118 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.