Rayonier (NYSE:RYN) Upgraded at StockNews.com

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a report published on Saturday.

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

Rayonier Price Performance

RYN opened at $30.14 on Friday. The company has a fifty day moving average price of $31.45 and a two-hundred day moving average price of $30.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.78 and a current ratio of 1.99. Rayonier has a 52 week low of $27.40 and a 52 week high of $35.29. The firm has a market capitalization of $4.49 billion, a PE ratio of 28.43 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same period in the prior year, the firm posted $0.13 EPS. Rayonier’s revenue was down 3.3% on a year-over-year basis. As a group, analysts anticipate that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Insider Activity

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The trade was a 19.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rayonier

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in Rayonier by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after acquiring an additional 196,571 shares in the last quarter. SG Americas Securities LLC lifted its position in Rayonier by 308.5% in the 2nd quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock valued at $923,000 after acquiring an additional 23,953 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Rayonier in the 2nd quarter valued at $732,000. Boston Partners bought a new stake in Rayonier in the 1st quarter valued at $957,000. Finally, Walleye Trading LLC bought a new stake in Rayonier in the 1st quarter valued at $1,203,000. 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.