Rayonier (NYSE:RYN) Hits New 12-Month Low – Here’s Why

Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Monday . The company traded as low as $23.53 and last traded at $23.66, with a volume of 56691 shares traded. The stock had previously closed at $25.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RYN shares. Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada reduced their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. Finally, Truist Financial lowered their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Rayonier presently has an average rating of “Hold” and an average price target of $29.00.

Rayonier Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The firm has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $28.63. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.25 and a beta of 0.97.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, sell-side analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.52%. Rayonier’s payout ratio is 46.19%.

Institutional Trading of Rayonier

A number of institutional investors have recently bought and sold shares of RYN. Harvest Fund Management Co. Ltd bought a new position in Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its stake in shares of Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,217 shares during the last quarter. GAMMA Investing LLC raised its position in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 511 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Rayonier by 30.0% in the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 535 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

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.