Eric Cremers Sells 169,200 Shares of Rayonier (NYSE:RYN) Stock

Rayonier Inc. (NYSE:RYN) Chairman Eric Cremers sold 169,200 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the sale, the chairman owned 709,583 shares of the company’s stock, valued at approximately $15,213,459.52. The trade was a 19.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rayonier Stock Performance

Shares of RYN opened at $21.77 on Wednesday. Rayonier Inc. has a 1 year low of $20.75 and a 1 year high of $28.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.23. The stock’s fifty day moving average price is $22.67 and its two-hundred day moving average price is $23.63. The firm has a market cap of $6.58 billion, a PE ratio of 7.14 and a beta of 0.98.

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

Rayonier Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, March 17th. Rayonier’s dividend payout ratio is presently 35.74%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sankala Group LLC bought a new stake in Rayonier during the fourth quarter valued at approximately $929,000. Invesco Ltd. raised its holdings in shares of Rayonier by 5.0% during 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. Corient Private Wealth LLC purchased a new position in shares of Rayonier during the fourth quarter worth approximately $282,000. EP Wealth Advisors LLC bought a new stake in Rayonier in the fourth quarter worth $215,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Rayonier by 232.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after acquiring an additional 3,947,226 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RYN has been the topic of several recent research reports. Wall Street Zen downgraded Rayonier from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $26.00 to $28.00 in a report on Friday, February 13th. Royal Bank Of Canada increased their price target on shares of Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Finally, Citigroup cut their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

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.