Rayonier (NYSE:RYN) Announces Earnings Results, Hits Expectations

Rayonier (NYSE:RYN) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10, FiscalAI reports. The firm had revenue of $396.50 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share.

Rayonier Trading Down 1.9%

Shares of RYN stock traded down $0.41 during trading hours on Thursday, reaching $21.61. The company had a trading volume of 2,328,045 shares, compared to its average volume of 2,818,910. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 7.15 and a beta of 0.87. The company has a 50 day moving average of $21.38 and a 200 day moving average of $21.45.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. Rayonier’s payout ratio is presently 231.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RYN. Citigroup cut their price objective on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Truist Financial decreased their price target on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Royal Bank Of Canada set a $24.00 price target on Rayonier in a report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.60.

Hedge Funds Weigh In On Rayonier

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Rayonier by 65.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 627 shares during the period. Parallel Advisors LLC grew its holdings in shares of Rayonier by 77.9% in the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,073 shares during the period. Quarry LP raised its stake in Rayonier by 19.8% during the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 498 shares during the period. Vestcor Inc acquired a new stake in Rayonier during the 3rd quarter worth $92,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Rayonier by 56.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,870 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 1,395 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

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.