Rayonier (NYSE:RYN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Rayonier (NYSE:RYN) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other analysts also recently commented on the company. Citigroup decreased their price target on Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. Royal Bank Of Canada boosted their price target on shares of Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Finally, Truist Financial reduced their price target on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.00.

Rayonier Stock Up 0.8%

Rayonier stock opened at $21.66 on Friday. Rayonier has a fifty-two week low of $20.75 and a fifty-two week high of $28.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.23 and a current ratio of 3.26. The firm’s 50-day simple moving average is $22.67 and its 200 day simple moving average is $23.66. The stock has a market cap of $6.55 billion, a PE ratio of 7.10 and a beta of 0.98.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The firm had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. During the same quarter last year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. Research analysts predict that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s dividend payout ratio (DPR) is 35.74%.

Insider Transactions at Rayonier

In other Rayonier news, Chairman Eric J. Cremers sold 169,200 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the sale, the chairman directly owned 709,583 shares of the company’s stock, valued at $15,213,459.52. This represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Several large investors have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in Rayonier by 213.7% in the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 829 shares during the period. Hartford Financial Management Inc. bought a new stake in Rayonier during the 3rd quarter valued at $31,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Rayonier during the fourth quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 627 shares during the period. Finally, Caldwell Trust Co bought a new position in shares of Rayonier in the second quarter worth $39,000. Hedge funds and other institutional investors 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.