Rayonier Inc. (NYSE:RYN) Short Interest Down 34.0% in February

Rayonier Inc. (NYSE:RYN) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 5,331,632 shares, a decrease of 34.0% from the January 29th total of 8,075,373 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 3,638,819 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily volume of 3,638,819 shares, the days-to-cover ratio is currently 1.5 days. Currently, 3.3% of the shares of the company are short sold.

Analyst Ratings Changes

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

Rayonier Price Performance

Shares of NYSE:RYN traded down $0.04 on Friday, reaching $21.49. 4,347,082 shares of the company were exchanged, compared to its average volume of 4,009,993. The company has a 50-day moving average of $22.67 and a 200-day moving average of $23.72. The company has a current ratio of 3.26, a quick ratio of 3.39 and a debt-to-equity ratio of 0.38. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 7.04 and a beta of 0.98. Rayonier has a 1-year low of $20.75 and a 1-year high of $28.31.

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

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Inflows and Outflows

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