Rayonier (NYSE:RYN) Issues Quarterly Earnings Results

Rayonier (NYSE:RYN) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10, FiscalAI reports. The business had revenue of $396.50 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share.

Rayonier Price Performance

Rayonier stock traded up $0.06 during midday trading on Wednesday, reaching $21.99. The company’s stock had a trading volume of 4,281,677 shares, compared to its average volume of 2,400,006. 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 stock has a market cap of $6.61 billion, a PE ratio of 7.28 and a beta of 0.87. Rayonier has a 52 week low of $19.49 and a 52 week high of $27.33. The business has a 50-day moving average price of $21.38 and a 200-day moving average price of $21.45.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 34.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RYN shares. Truist Financial cut 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. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a report on Thursday, April 16th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Citigroup reduced their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.60.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently modified their holdings of RYN. Corient Private Wealth LLC bought a new stake in shares of Rayonier in the fourth quarter worth $285,000. Invesco Ltd. raised its stake in Rayonier by 5.0% during the 4th quarter. Invesco Ltd. now owns 811,944 shares of the real estate investment trust’s stock worth $17,579,000 after buying an additional 38,763 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Rayonier during the fourth quarter worth approximately $215,000. Fuller & Thaler Asset Management Inc. lifted its stake 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. Finally, XTX Topco Ltd lifted its position in Rayonier by 249.9% in the 4th quarter. XTX Topco Ltd now owns 85,071 shares of the real estate investment trust’s stock valued at $1,842,000 after acquiring an additional 60,760 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

About Rayonier

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.