Insider Selling: Rayonier Inc. (NYSE:RYN) Director Sells 10,011 Shares of Stock

Rayonier Inc. (NYSE:RYN) Director V. Larkin Martin sold 10,011 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rayonier Stock Up 1.7 %

Rayonier stock opened at $32.03 on Monday. The company has a market capitalization of $4.77 billion, a P/E ratio of 28.60 and a beta of 1.04. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29. The firm’s fifty day simple moving average is $29.86 and its 200-day simple moving average is $30.60. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Sell-side analysts forecast that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.285 per share. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.56%. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a report on Friday, June 14th. Truist Financial lowered their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Hedge Funds Weigh In On Rayonier

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Rayonier by 3,240.9% in the 4th quarter. International Assets Investment Management LLC now owns 17,640 shares of the real estate investment trust’s stock valued at $589,000 after buying an additional 17,112 shares during the last quarter. M&T Bank Corp grew its position in shares of Rayonier by 4.4% in the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 344 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Rayonier by 669.4% in the fourth quarter. BNP Paribas Financial Markets now owns 67,600 shares of the real estate investment trust’s stock worth $2,259,000 after purchasing an additional 58,814 shares during the period. Jump Financial LLC acquired a new position in shares of Rayonier during the 4th quarter worth about $615,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Rayonier by 53.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,413 shares of the real estate investment trust’s stock valued at $381,000 after purchasing an additional 3,954 shares during the period. Institutional investors own 89.12% of the company’s stock.

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.