Rayonier (NYSE:RYN) CFO Wayne Wasechek Sells 2,920 Shares

Rayonier Inc. (NYSE:RYN) CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rayonier Stock Down 0.5%

RYN traded down $0.11 during midday trading on Tuesday, hitting $21.31. The company had a trading volume of 575,052 shares, compared to its average volume of 3,036,695. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The company has a quick ratio of 3.23, a current ratio of 3.26 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.98 and a beta of 0.97. The stock’s 50 day moving average price is $21.31 and its 200 day moving average price is $22.31.

Rayonier (NYSE:RYN) last released its quarterly earnings data 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. The firm had revenue of $117.50 million during the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, research analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. Rayonier’s payout ratio is presently 34.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RYN. Norges Bank bought a new position in Rayonier in the 4th quarter valued at $313,806,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after acquiring an additional 3,947,226 shares during the period. Caisse de depot et placement du Quebec bought a new position in shares of Rayonier during the 4th quarter valued at approximately $20,813,000. Qube Research & Technologies Ltd grew its position in shares of Rayonier by 1,088.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 790,239 shares of the real estate investment trust’s stock valued at $17,528,000 after acquiring an additional 723,732 shares during the period. Finally, Cohen & Steers Inc. grew its position in shares of Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after acquiring an additional 717,021 shares during the period. Institutional investors own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada set a $24.00 price target on Rayonier in a report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a report on Friday, March 27th. Truist Financial decreased their price target on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, January 6th. Finally, Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $26.00 to $28.00 in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.50.

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.