Rayonier (NYSE:RYN) Hits New 12-Month Low – Should You Sell?

Rayonier Inc. (NYSE:RYN) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $20.84 and last traded at $20.8030, with a volume of 611313 shares traded. The stock had previously closed at $21.52.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $26.00 to $28.00 in a report on Friday, February 13th. Citigroup dropped their price target on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Royal Bank Of Canada increased their price objective on Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Truist Financial decreased their target price on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.00.

Rayonier Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.39. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 6.91 and a beta of 0.98. The stock has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $23.80.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The business had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. During the same period in the prior year, the firm posted $0.24 EPS. The business’s quarterly revenue was down 24.4% compared to the same quarter last year. As a group, analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. Rayonier’s payout ratio is currently 35.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RYN. Baker Ellis Asset Management LLC increased its position in Rayonier by 3.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Bfsg LLC lifted its position in Rayonier by 0.6% during the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after buying an additional 492 shares in the last quarter. Quarry LP grew its stake in Rayonier by 19.8% during the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 498 shares during the period. Greenwood Gearhart Inc. increased its position in shares of Rayonier by 4.9% in the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 502 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its stake in shares of Rayonier by 1.8% in the 3rd quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust’s stock valued at $752,000 after acquiring an additional 510 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.