Rayonier (NYSE:RYN) SVP Sells 887 Shares of Stock

Rayonier Inc. (NYSE:RYN) SVP Ryan Daniels sold 887 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $18.56, for a total transaction of $16,462.72. Following the completion of the transaction, the senior vice president directly owned 53,713 shares in the company, valued at approximately $996,913.28. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rayonier Price Performance

Shares of NYSE:RYN traded down $0.13 during midday trading on Thursday, hitting $18.23. The stock had a trading volume of 3,522,910 shares, compared to its average volume of 2,965,539. The company’s 50-day moving average price is $20.76 and its 200-day moving average price is $20.88. Rayonier Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $27.06. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.42 billion, a P/E ratio of 40.51 and a beta of 0.87.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $374.28 million. During the same period last year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 272.3% compared to the same quarter last year. As a group, equities research analysts predict that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.7%. Rayonier’s payout ratio is 231.11%.

Institutional Investors Weigh In On Rayonier

Several hedge funds have recently modified their holdings of RYN. Envestnet Portfolio Solutions Inc. grew its position 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 worth $1,530,000 after acquiring an additional 50,185 shares during the last quarter. Integrated Wealth Concepts LLC raised its position 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 valued at $322,000 after purchasing an additional 1,111 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Rayonier by 193.9% during the second quarter. Squarepoint Ops LLC now owns 128,602 shares of the real estate investment trust’s stock valued at $2,737,000 after purchasing an additional 84,843 shares in the last quarter. Waverly Advisors LLC grew its holdings 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 about $932,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Finally, Citigroup increased 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus 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 from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.