Investors Buy Large Volume of Call Options on Rayonier (NYSE:RYN)

Rayonier Inc. (NYSE:RYN) was the target of some unusual options trading activity on Tuesday. Stock traders bought 4,367 call options on the stock. This is an increase of 3,042% compared to the average volume of 139 call options.

Shares of NYSE RYN traded down $0.03 during midday trading on Tuesday, reaching $36.37. 649,137 shares of the stock were exchanged, compared to its average volume of 526,772. Rayonier has a 12 month low of $20.23 and a 12 month high of $37.58. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 113.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.83 and a quick ratio of 1.68. The business has a 50-day simple moving average of $34.25 and a two-hundred day simple moving average of $31.28.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 3rd. The real estate investment trust reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Rayonier had a return on equity of 2.29% and a net margin of 5.14%. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate of $194.41 million. During the same quarter last year, the business posted $0.12 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Rayonier will post 0.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $1.08 annualized dividend and a yield of 2.97%. Rayonier’s dividend payout ratio (DPR) is currently 234.78%.

In related news, VP Mark R. Bridwell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the sale, the vice president now owns 46,590 shares of the company’s stock, valued at $1,560,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.86% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Rayonier by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 9,818,506 shares of the real estate investment trust’s stock worth $288,468,000 after acquiring an additional 101,316 shares during the period. Credit Suisse AG lifted its holdings in shares of Rayonier by 22.3% in the fourth quarter. Credit Suisse AG now owns 120,104 shares of the real estate investment trust’s stock valued at $3,529,000 after purchasing an additional 21,866 shares in the last quarter. Reinhart Partners Inc. boosted its position in shares of Rayonier by 9.4% during the fourth quarter. Reinhart Partners Inc. now owns 459,851 shares of the real estate investment trust’s stock worth $13,511,000 after buying an additional 39,584 shares during the period. Pekin Hardy Strauss Inc. bought a new position in shares of Rayonier during the fourth quarter worth about $204,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in Rayonier by 1.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 25,369 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 475 shares during the last quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a report on Monday, February 8th.

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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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