Rayonier (NYSE:RYN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Rayonier (NYSE:RYN) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03, Zacks reports. The company had revenue of $565.60 million during the quarter, compared to analyst estimates of $406.98 million. Rayonier had a net margin of 11.49% and a return on equity of 2.85%. The firm’s revenue was up 218.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS.

Rayonier Trading Down 2.3%

NYSE RYN traded down $0.51 during trading on Friday, hitting $21.40. The stock had a trading volume of 1,402,375 shares, compared to its average volume of 3,063,812. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The stock has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $20.91. Rayonier has a one year low of $17.71 and a one year high of $24.82. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 36.89 and a beta of 0.88.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, December 17th. Rayonier’s dividend payout ratio is presently 179.31%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a report on Monday, October 12th. Citigroup reduced their target price on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Seaport Research Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rayonier in a research report on Thursday, October 8th. Royal Bank Of Canada reduced their price objective on Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, October 16th. Finally, Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.80.

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 6,219 shares of company stock valued at $124,088 in the last quarter. Corporate insiders own 0.84% 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.