Rayonier (NYSE:RYN) Sets New 1-Year Low After Analyst Downgrade

Rayonier Inc. (NYSE:RYN) hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $23.00 to $19.00. Citigroup currently has a neutral rating on the stock. Rayonier traded as low as $17.85 and last traded at $18.0160, with a volume of 3606361 shares changing hands. The stock had previously closed at $18.06.

Several other research analysts also recently weighed in on the stock. Truist Financial reduced their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.00.

Insider Buying and Selling

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president owned 131,661 shares in the company, valued at approximately $2,658,235.59. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 6,219 shares of company stock valued at $124,088. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rayonier

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Rayonier in the 2nd quarter valued at about $617,451,000. Legal & General Group Plc acquired a new position in shares of Rayonier during the 2nd quarter worth approximately $213,574,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Rayonier in the first quarter valued at approximately $85,771,000. Atlas FRM LLC purchased a new stake in shares of Rayonier in the second quarter valued at approximately $83,843,200. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Rayonier in the second quarter valued at approximately $52,572,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 39.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The firm has a fifty day moving average of $20.39 and a 200 day moving average of $20.80.

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 analysts’ consensus estimates of $0.10. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The firm’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, sell-side analysts forecast that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.8%. Rayonier’s payout ratio is presently 231.11%.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.