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 report sent to investors on Saturday morning.

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

Rayonier Stock Down 0.2 %

Shares of NYSE:RYN opened at $30.07 on Friday. Rayonier has a 1-year low of $27.40 and a 1-year high of $35.29. The stock has a market cap of $4.48 billion, a P/E ratio of 28.37 and a beta of 1.05. The firm has a fifty day moving average price of $31.44 and a 200 day moving average price of $30.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Sell-side analysts predict that Rayonier will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The business 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 of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.79%. Rayonier’s dividend payout ratio is currently 107.55%.

Insider Activity 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 stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vestcor Inc acquired a new stake in Rayonier during the third quarter worth about $1,749,000. Duff & Phelps Investment Management Co. boosted its holdings in Rayonier by 9.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 69,150 shares of the real estate investment trust’s stock valued at $2,225,000 after purchasing an additional 6,140 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Rayonier during the 3rd quarter valued at approximately $654,000. XTX Topco Ltd bought a new position in Rayonier during the 3rd quarter valued at $311,000. Finally, State Street Corp lifted its position in shares of Rayonier by 2.5% during the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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.