Rayonier (NYSE:RYN) Raised to “Hold” at StockNews.com

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

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

Rayonier Trading Up 0.6 %

Shares of NYSE:RYN opened at $30.14 on Friday. The company’s 50-day moving average price is $31.45 and its two-hundred day moving average price is $30.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.78. Rayonier has a one year low of $27.40 and a one year high of $35.29. The stock has a market capitalization of $4.49 billion, a PE ratio of 28.43 and a beta of 1.05.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business 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 company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. On average, equities analysts forecast that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.78%. Rayonier’s payout ratio is 107.55%.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Rayonier during the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. acquired a new position in shares of Rayonier during the 1st quarter worth approximately $26,000. GAMMA Investing LLC grew its position in shares of Rayonier by 53.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 376 shares in the last quarter. Venturi Wealth Management LLC grew 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 worth $35,000 after purchasing an additional 672 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Rayonier during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds 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.