Rayonier (NYSE:RYN) Hits New 1-Year Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RYN shares. Truist Financial dropped their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Rayonier Trading Down 1.6 %

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

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 during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. Analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Shareholders 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 announced that its board has authorized a share repurchase plan on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Rayonier

A number of hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Rayonier during the third quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its stake in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 672 shares during the period. Quest Partners LLC acquired a new position in Rayonier in the 2nd quarter valued at $40,000. Blue Trust Inc. grew its holdings in Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,042 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

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.