Rayonier (NYSE:RYN) Upgraded at StockNews.com

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

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

Rayonier Trading Up 0.8 %

Shares of NYSE:RYN opened at $29.97 on Friday. Rayonier has a 1 year low of $27.40 and a 1 year high of $35.29. The firm has a fifty day moving average price of $31.46 and a 200 day moving average price of $30.31. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $4.47 billion, a PE ratio of 28.27 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The company 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 company posted $0.13 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. Analysts expect that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.285 per share. 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 is presently 107.55%.

Insider Buying and Selling at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the transaction, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 19.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently bought and sold shares of RYN. V Square Quantitative Management LLC acquired a new position in shares of Rayonier during the third quarter valued at about $25,000. Advisors Asset Management Inc. acquired a new position in Rayonier in the 1st quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position in shares of Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 376 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Rayonier by 165.1% during 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 in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Rayonier during the 2nd quarter worth approximately $40,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.