Rayonier (NYSE:RYN) Hits New 52-Week Low – Should You Sell?

Shares of Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Monday . The company traded as low as $25.49 and last traded at $25.67, with a volume of 61605 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial lifted their price target on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, October 15th.

Rayonier Trading Up 0.8 %

The firm has a market capitalization of $3.89 billion, a P/E ratio of 24.62 and a beta of 1.02. The business’s 50 day moving average is $29.91 and its two-hundred day moving average is $30.18. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71.

Rayonier (NYSE:RYN) last released its quarterly 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). The company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Analysts expect that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Rayonier announced that its Board of Directors has approved a stock repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Rayonier

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Rayonier in the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its position in shares of Rayonier by 165.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,042 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Rayonier in the 2nd quarter worth $40,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

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.