Rayonier (NYSE:RYN) Sets New 1-Year Low – Here’s Why

Rayonier Inc. (NYSE:RYN)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.48 and last traded at $19.4060, with a volume of 670266 shares trading hands. The stock had previously closed at $19.86.

Wall Street Analyst Weigh In

RYN has been the subject of several research reports. Truist Financial lowered their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Citigroup boosted their target price on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Rayonier has a consensus rating of “Hold” and an average target price of $24.80.

Rayonier Trading Down 2.9%

The stock has a market cap of $5.74 billion, a PE ratio of 42.83 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. The stock has a fifty day moving average price of $21.04 and a 200 day moving average price of $20.95.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.Rayonier’s quarterly revenue was up 272.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. Equities analysts expect that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.4%. Rayonier’s dividend payout ratio is currently 231.11%.

Insider Activity

In other news, EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president owned 131,661 shares in the company, valued at approximately $2,658,235.59. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Several hedge funds have recently added to or reduced their stakes in RYN. Envestnet Portfolio Solutions Inc. boosted its holdings in Rayonier by 231.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 71,878 shares of the real estate investment trust’s stock valued at $1,530,000 after acquiring an additional 50,185 shares during the period. Integrated Wealth Concepts LLC increased its stake in Rayonier by 7.9% in the second quarter. Integrated Wealth Concepts LLC now owns 15,117 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 1,111 shares during the period. Squarepoint Ops LLC increased its stake in Rayonier by 193.9% in the second quarter. Squarepoint Ops LLC now owns 128,602 shares of the real estate investment trust’s stock worth $2,737,000 after purchasing an additional 84,843 shares during the period. Waverly Advisors LLC lifted its position in shares of Rayonier by 13.9% during the second quarter. Waverly Advisors LLC now owns 99,991 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 12,211 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC bought a new stake in shares of Rayonier during the second quarter worth $932,000. 89.12% of the stock is currently owned by institutional investors.

Rayonier Company Profile

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.