Rayonier (NYSE:RYN) EVP Sells $107,370.42 in Stock

Rayonier Inc. (NYSE:RYN) EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the transaction, the executive vice president directly owned 131,661 shares of the company’s stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rayonier Stock Performance

NYSE:RYN opened at $20.25 on Monday. The business’s fifty day moving average is $21.26 and its 200 day moving average is $21.04. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 45.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.06.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The firm’s revenue was up 272.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. Research analysts predict that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is 231.11%.

Institutional Investors Weigh In On Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Rayonier in the 2nd quarter worth approximately $617,451,000. Norges Bank bought a new position in shares of Rayonier in the 4th quarter worth $313,806,000. Cohen & Steers Inc. raised 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 buying an additional 717,021 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Rayonier during the 2nd quarter valued at $213,574,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Rayonier by 1,882.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,682,367 shares of the real estate investment trust’s stock worth $142,201,000 after acquiring an additional 6,345,318 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RYN shares. Truist Financial cut their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. BMO Capital Markets decreased their price target on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Finally, Citigroup increased their price objective on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.80.

About Rayonier

Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier’s timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.