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

Rayonier Inc. (NYSE:RYN) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.84 and last traded at $22.17, with a volume of 1251251 shares changing hands. The stock had previously closed at $22.12.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RYN. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Truist Financial cut their price target on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. Finally, Citigroup cut their target price on Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Rayonier currently has an average rating of “Hold” and an average price target of $27.75.

Rayonier Stock Up 1.8%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The firm has a market capitalization of $3.61 billion, a P/E ratio of 9.94 and a beta of 1.02. The stock has a fifty day moving average price of $23.44 and a two-hundred day moving average price of $25.28.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The business had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. Research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.2725 per share. The ex-dividend date was Monday, June 16th. This represents a $1.09 annualized dividend and a yield of 4.70%. Rayonier’s dividend payout ratio (DPR) is 46.78%.

Hedge Funds Weigh In On Rayonier

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Rayonier during the 4th quarter worth approximately $327,000. Proficio Capital Partners LLC bought a new position in Rayonier during the 4th quarter worth $648,000. US Bancorp DE lifted its stake in Rayonier by 15.9% in the fourth quarter. US Bancorp DE now owns 13,139 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 1,807 shares during the last quarter. Bailard Inc. bought a new stake in Rayonier during the 4th quarter valued at $327,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Rayonier by 264.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,217 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.