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

Rayonier Inc. (NYSE:RYN)’s share price reached a new 52-week low on Monday . The company traded as low as $20.75 and last traded at $20.99, with a volume of 1101891 shares traded. The stock had previously closed at $21.55.

Wall Street Analysts Forecast Growth

RYN has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Citigroup decreased their price target on Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Truist Financial dropped their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. Finally, Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

Rayonier Price Performance

The company has a market cap of $6.26 billion, a price-to-earnings ratio of 6.79 and a beta of 0.98. The company has a 50-day simple moving average of $22.68 and a 200-day simple moving average of $23.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.23 and a current ratio of 3.26.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The business had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. During the same period last year, the firm earned $0.24 EPS. The company’s quarterly revenue was down 24.4% compared to the same quarter last year. As a group, research analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 35.74%.

Insider Activity at Rayonier

In related news, Chairman Eric J. Cremers sold 169,200 shares of the company’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 value of $3,627,648.00. Following the sale, the chairman owned 709,583 shares in the company, valued at $15,213,459.52. This represents a 19.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rayonier

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC boosted its position in Rayonier by 3.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 469 shares during the period. Bfsg LLC raised its position in Rayonier by 0.6% in the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after purchasing an additional 492 shares during the period. Quarry LP lifted its stake in shares of Rayonier by 19.8% during the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 498 shares in the last quarter. Greenwood Gearhart Inc. lifted its stake in shares of Rayonier by 4.9% during the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 502 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its position in shares of Rayonier by 1.8% in the third quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust’s stock worth $752,000 after buying an additional 510 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

About Rayonier

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.