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

Rayonier Inc. (NYSE:RYN) shares hit a new 52-week low on Thursday. The stock traded as low as $19.48 and last traded at $19.4060, with a volume of 670266 shares trading hands. The stock had previously closed at $19.86.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RYN. Citigroup upped their price target 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, Truist Financial cut their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Stock Performance

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 50-day moving average of $20.93 and a 200-day moving average of $20.92. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 41.99 and a beta of 0.87.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The firm’s quarterly revenue was up 272.3% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, sell-side analysts predict that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 231.11%.

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was 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 $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by company insiders.

Institutional Trading of Rayonier

Several institutional investors and hedge funds have recently bought and sold shares of the business. Painted Porch Advisors LLC raised its holdings in shares of Rayonier by 4.9% during the fourth quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 671 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Rayonier by 2.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,158 shares of the real estate investment trust’s stock valued at $804,000 after purchasing an additional 758 shares during the last quarter. Bollard Group LLC boosted its holdings in Rayonier by 2.3% in the fourth quarter. Bollard Group LLC now owns 37,042 shares of the real estate investment trust’s stock valued at $802,000 after purchasing an additional 823 shares during the last quarter. Natural Investments LLC grew its position in Rayonier by 5.4% during the 2nd quarter. Natural Investments LLC now owns 16,382 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 833 shares during the period. Finally, New Age Alpha Advisors LLC grew its position in Rayonier by 4.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 20,957 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 877 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier

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.