Rayonier (NYSE:RYN) Hits New 12-Month Low – Here’s Why

Shares of Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Thursday . The company traded as low as $20.00 and last traded at $20.0690, with a volume of 453906 shares trading hands. The stock had previously closed at $20.22.

Analyst Ratings Changes

A number of equities research analysts recently commented on RYN shares. Royal Bank Of Canada lifted their price objective on Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Truist Financial cut their target price on Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $26.00 to $28.00 in a research note on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Rayonier Price Performance

The company has a 50 day moving average of $22.34 and a 200 day moving average of $23.14. The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 6.40 and a beta of 0.98.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was down 24.4% on a year-over-year basis. Equities research analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.3%. Rayonier’s payout ratio is currently 34.10%.

Insider Transactions at Rayonier

In related news, Chairman Eric J. Cremers sold 169,200 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the completion of the sale, the chairman directly owned 709,583 shares of the company’s stock, valued at approximately $15,213,459.52. This represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RYN. Allworth Financial LP raised its holdings in shares of Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 829 shares during the period. Hartford Financial Management Inc. acquired a new position in Rayonier in the 3rd quarter worth $31,000. Eurizon Capital SGR S.p.A. bought a new position in Rayonier during the 4th quarter worth about $34,000. Northwestern Mutual Wealth Management Co. increased its holdings in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares in the last quarter. Finally, Caldwell Trust Co acquired a new stake in shares of Rayonier in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

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.