Rayonier (NYSE:RYN) Releases Earnings Results, Hits Expectations

Rayonier (NYSE:RYN) released its earnings results on Wednesday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10, FiscalAI reports. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The business had revenue of $396.50 million for the quarter, compared to analyst estimates of $374.28 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Rayonier’s revenue was up 272.3% on a year-over-year basis.

Rayonier Stock Performance

RYN stock traded up $0.06 during trading hours on Wednesday, hitting $21.99. 4,281,677 shares of the stock were exchanged, compared to its average volume of 2,400,006. Rayonier has a 12 month low of $19.49 and a 12 month high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.61 billion, a P/E ratio of 7.28 and a beta of 0.87. The company has a 50-day simple moving average of $21.38 and a two-hundred day simple moving average of $21.45.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 4.7%. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent analyst reports. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. BMO Capital Markets cut their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. Citigroup decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Truist Financial lowered their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus target price of $24.60.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. raised its position in shares of Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after buying an additional 3,947,226 shares in the last quarter. State Street Corp lifted its holdings in shares of Rayonier by 5.0% during the 4th quarter. State Street Corp now owns 4,779,300 shares of the real estate investment trust’s stock worth $103,472,000 after acquiring an additional 226,012 shares during the period. Legal & General Group Plc boosted its position in shares of Rayonier by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 4,222,235 shares of the real estate investment trust’s stock worth $112,058,000 after acquiring an additional 28,705 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rayonier by 8.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,521,580 shares of the real estate investment trust’s stock worth $54,592,000 after acquiring an additional 197,503 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Rayonier by 29.4% in the fourth quarter. Franklin Resources Inc. now owns 2,380,739 shares of the real estate investment trust’s stock valued at $51,543,000 after acquiring an additional 540,832 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.