Rayonier (NYSE:RYN) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Rayonier (NYSE:RYN) from a hold rating to a sell rating in a research report released on Friday.

Separately, Truist Financial upped their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Price Performance

Shares of RYN traded down $0.65 during mid-day trading on Friday, hitting $30.99. The company’s stock had a trading volume of 1,209,305 shares, compared to its average volume of 599,361. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. Rayonier has a 1-year low of $27.40 and a 1-year high of $35.29. The firm has a market capitalization of $4.62 billion, a P/E ratio of 29.23 and a beta of 1.05. The firm has a 50-day simple moving average of $31.54 and a 200 day simple moving average of $30.31.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. Rayonier had a return on equity of 2.93% and a net margin of 15.84%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Analysts predict that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is currently owned by company insiders.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Rayonier by 948.3% during the third quarter. Advisors Asset Management Inc. now owns 13,146 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 11,892 shares during the period. Global Alpha Capital Management Ltd. raised its stake in Rayonier by 2.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock worth $33,278,000 after acquiring an additional 28,800 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Rayonier in the third quarter valued at approximately $373,000. Firetrail Investments PTY Ltd. grew its holdings in shares of Rayonier by 0.7% during the third quarter. Firetrail Investments PTY Ltd. now owns 246,287 shares of the real estate investment trust’s stock valued at $7,918,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Rayonier during the 3rd quarter worth approximately $311,000. 89.12% of the stock is owned by institutional investors.

About Rayonier

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.