Rayonier (NYSE:RYN) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a report released on Saturday.

Separately, Truist Financial lifted their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Rayonier Stock Performance

RYN opened at $29.97 on Friday. The business’s 50 day moving average is $31.46 and its 200-day moving average is $30.31. The stock has a market cap of $4.47 billion, a PE ratio of 28.27 and a beta of 1.05. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. Rayonier has a twelve month low of $27.40 and a twelve month high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same quarter last year, the business posted $0.13 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.285 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.80%. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Insider Activity

In other news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYN. V Square Quantitative Management LLC acquired a new stake in shares of Rayonier during the 3rd quarter valued at $25,000. Advisors Asset Management Inc. acquired a new stake in Rayonier during the first quarter valued at $26,000. GAMMA Investing LLC boosted its position in Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares during the last quarter. Venturi Wealth Management LLC increased its position in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 672 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Rayonier during the 2nd quarter worth about $40,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.