Rayonier (NYSE:RYN) Reaches New 52-Week Low – Time to Sell?

Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Wednesday . The company traded as low as $25.32 and last traded at $25.49, with a volume of 46206 shares trading hands. The stock had previously closed at $26.11.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RYN shares. Truist Financial cut their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Rayonier Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The firm has a market cap of $3.83 billion, a P/E ratio of 24.24 and a beta of 1.04. The company’s 50 day moving average is $29.39 and its 200 day moving average is $30.04.

Rayonier (NYSE:RYN) last announced its quarterly earnings results 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). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same period in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is currently 107.55%.

Rayonier declared that its board has initiated a share repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Rayonier

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier during the 3rd quarter valued at $25,000. Venturi Wealth Management LLC grew its position in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 672 shares during the period. Quest Partners LLC purchased a new stake in Rayonier during the second quarter worth about $40,000. Blue Trust Inc. raised its position in Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,042 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 511 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

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.