Rayonier (NYSE:RYN) Sets New 1-Year Low – Should You Sell?

Rayonier Inc. (NYSE:RYN) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $20.75 and last traded at $20.99, with a volume of 1101891 shares trading hands. The stock had previously closed at $21.55.

Analyst Ratings Changes

Several research analysts have weighed in on RYN shares. Citigroup dropped their target price on Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Truist Financial lowered their price target on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Royal Bank Of Canada raised their price objective on shares of Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Rayonier Stock Down 1.6%

The company has a market cap of $6.28 billion, a price-to-earnings ratio of 6.81 and a beta of 0.98. The business has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $23.45. The company has a quick ratio of 3.23, a current ratio of 3.26 and a debt-to-equity ratio of 0.38.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS 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 analyst estimates of $108.71 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. As a group, equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is 35.74%.

Insider Activity at Rayonier

In other news, Chairman Eric J. Cremers sold 169,200 shares of Rayonier stock in a transaction that occurred on 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 of the company’s stock, valued at $15,213,459.52. This trade represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Rayonier

Several large investors have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 829 shares during the period. Hartford Financial Management Inc. bought a new position in shares of Rayonier in the third quarter worth about $31,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Rayonier during the 4th quarter worth about $34,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in Rayonier during the 2nd quarter valued at approximately $39,000. 89.12% of the stock is owned by institutional investors.

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.