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

Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Tuesday . The stock traded as low as $26.02 and last traded at $26.21, with a volume of 1033263 shares trading hands. The stock had previously closed at $26.42.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RYN. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th.

Rayonier Stock Up 0.8 %

The company’s 50 day moving average price is $30.39 and its two-hundred day moving average price is $30.29. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.94 billion, a PE ratio of 24.93 and a beta of 1.02.

Rayonier (NYSE:RYN) last released its earnings results 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 company had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. During the same quarter last year, the firm posted $0.13 earnings per share. Rayonier’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

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

Rayonier declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently modified their holdings of RYN. Bank of New York Mellon Corp lifted its stake in shares of Rayonier by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock valued at $36,089,000 after buying an additional 10,536 shares in the last quarter. Versor Investments LP bought a new position in shares of Rayonier in the second quarter worth about $571,000. Arizona State Retirement System grew its position in shares of Rayonier by 2.1% during the second quarter. Arizona State Retirement System now owns 39,531 shares of the real estate investment trust’s stock worth $1,150,000 after purchasing an additional 814 shares in the last quarter. Impax Asset Management Group plc raised its stake in Rayonier by 17.3% during the 2nd quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after purchasing an additional 1,004,357 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,500 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.