StockNews.com Downgrades Rayonier (NYSE:RYN) to Sell

StockNews.com cut shares of Rayonier (NYSE:RYN) from a hold rating to a sell rating in a research note issued to investors on Friday.

Separately, Truist Financial raised their target price on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Stock Performance

Shares of NYSE RYN traded down $0.65 during midday trading on Friday, hitting $30.99. 1,209,305 shares of the company’s stock were exchanged, compared to its average volume of 599,361. Rayonier has a twelve month low of $27.40 and a twelve month high of $35.29. The firm has a market cap of $4.62 billion, a P/E ratio of 29.23 and a beta of 1.05. The stock’s 50 day moving average price is $31.54 and its 200-day moving average price is $30.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.93%. The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the prior year, the business earned $0.13 EPS. Rayonier’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Insider Activity at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RYN. BNP Paribas Financial Markets grew its holdings in Rayonier by 138.7% during the first quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock valued at $5,364,000 after purchasing an additional 93,768 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Rayonier by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after acquiring an additional 196,571 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Rayonier in the first quarter valued at about $729,000. SG Americas Securities LLC lifted its position in shares of Rayonier by 308.5% during the 2nd quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock worth $923,000 after purchasing an additional 23,953 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in Rayonier by 27.5% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 822,327 shares of the real estate investment trust’s stock valued at $27,334,000 after purchasing an additional 177,270 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Company Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.