Rayonier (NYSE:RYN) EVP Mark Bridwell Sells 5,318 Shares of Stock

Rayonier Inc. (NYSE:RYN) EVP Mark Bridwell sold 5,318 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president directly owned 131,661 shares of the company’s stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rayonier Stock Performance

Shares of RYN opened at $20.25 on Friday. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. The firm has a market cap of $6.03 billion, a PE ratio of 45.01 and a beta of 0.87. The company’s 50 day simple moving average is $21.26 and its 200-day simple moving average is $21.04. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.06.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $396.51 million during 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 3.49%. Rayonier’s revenue for the quarter was up 272.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, equities analysts predict that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Rayonier’s payout ratio is currently 231.11%.

Institutional Trading of Rayonier

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in shares of Rayonier by 7.9% during the second quarter. Integrated Wealth Concepts LLC now owns 15,117 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 1,111 shares during the period. Squarepoint Ops LLC raised its holdings in Rayonier by 193.9% during the second quarter. Squarepoint Ops LLC now owns 128,602 shares of the real estate investment trust’s stock worth $2,737,000 after purchasing an additional 84,843 shares in the last quarter. Waverly Advisors LLC lifted its position in Rayonier by 13.9% in the second quarter. Waverly Advisors LLC now owns 99,991 shares of the real estate investment trust’s stock valued at $2,128,000 after purchasing an additional 12,211 shares during the period. Murphy Pohlad Asset Management LLC acquired a new stake in Rayonier in the second quarter valued at about $932,000. Finally, Nykredit A S purchased a new stake in Rayonier in the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

RYN has been the topic of a number of research reports. Truist Financial lowered their price target on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Citigroup increased their price objective on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Finally, BMO Capital Markets dropped their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.80.

Rayonier Company Profile

Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier’s timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.