Rayonier (NYSE:RYN) Share Price Breaks Above 50 Day Moving Average – Here’s Why

Shares of Rayonier Inc. (NYSE:RYN) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $19.48 and traded as high as $20.38. Rayonier shares last traded at $20.1820, with a volume of 4,530,409 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, October 16th. Truist Financial cut their price target on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Seaport Research Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rayonier in a research note on Thursday, October 8th. Finally, Citigroup decreased their price objective on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $22.80.

Rayonier Trading Up 4.1%

The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.01 billion, a P/E ratio of 44.85 and a beta of 0.89. The business has a 50 day moving average price of $19.48 and a 200 day moving average price of $20.97.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. During the same quarter last year, the firm earned $0.06 EPS. Rayonier’s quarterly revenue was up 272.3% compared to the same quarter last year. Analysts anticipate that Rayonier Inc. will post 0.42 EPS for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be issued a $0.26 dividend. The ex-dividend date is Thursday, December 17th. This represents a $1.04 annualized dividend and a yield of 5.2%. Rayonier’s dividend payout ratio (DPR) is 231.11%.

Insider Buying and Selling at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares of the company’s stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 6,219 shares of company stock worth $124,088 over the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Rayonier

Several hedge funds have recently added to or reduced their stakes in RYN. Corient Private Wealth LP raised its holdings in shares of Rayonier by 731.4% in the second quarter. Corient Private Wealth LP now owns 94,839 shares of the real estate investment trust’s stock valued at $2,018,000 after purchasing an additional 83,432 shares during the last quarter. Bank of America Corp DE boosted its holdings in Rayonier by 141.8% during the first quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock worth $33,420,000 after purchasing an additional 950,473 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Rayonier by 5.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,358,814 shares of the real estate investment trust’s stock worth $28,916,000 after purchasing an additional 76,021 shares during the last quarter. BlackRock Inc. acquired a new position in Rayonier during the second quarter worth $617,451,000. Finally, Adams Asset Advisors LLC bought a new position in Rayonier in the third quarter valued at $3,073,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.