Rayonier (NYSE:RYN) Reaches New 1-Year Low – Time to Sell?

by · The Markets Daily

Rayonier Inc. (NYSE:RYN – Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $25.49 and last traded at $25.67, with a volume of 61605 shares traded. The stock had previously closed at $25.96.

Analyst Upgrades and Downgrades

RYN has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Check Out Our Latest Stock Report on RYN

Rayonier Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The stock’s 50 day moving average price is $29.91 and its two-hundred day moving average price is $30.18. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 24.62 and a beta of 1.02.

Rayonier (NYSE:RYN – Get Free Report) 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). The business had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be issued a dividend of $1.80 per share. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Rayonier declared that its Board of Directors has approved a share repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Impax Asset Management Group plc grew its stake in Rayonier by 17.3% during the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock worth $197,226,000 after buying an additional 1,004,357 shares during the last quarter. State Street Corp grew its position in Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after acquiring an additional 104,464 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Rayonier by 26.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after purchasing an additional 695,810 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock valued at $78,579,000 after purchasing an additional 7,733 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Rayonier by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock worth $36,089,000 after purchasing an additional 10,536 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

About Rayonier

(Get Free Report)

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.

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