Insider Selling: Rayonier (NYSE:RYN) SVP Sells 887 Shares of Company Stock

Key Points

• Rayonier SVP Ryan Daniels sold 887 shares at an average price of $18.56, totaling $16,462.72. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 1.62%.
• Rayonier shares recently traded near $18.23, close to their 12-month low of $17.91. The company reported $396.5 million in quarterly revenue, up 272.3% year over year, while earnings per share matched estimates at $0.10.
• The REIT pays a quarterly dividend of $0.26 per share, equivalent to a 5.7% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $24.80, while institutional investors own 89.12% of the stock.

Rayonier Inc. (NYSE:RYN - Get Free Report) SVP Ryan Daniels sold 887 shares of Rayonier stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $18.56, for a total value of $16,462.72. Following the transaction, the senior vice president owned 53,713 shares of the company's stock, valued at $996,913.28. The trade was a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rayonier Stock Performance

Shares of NYSE RYN traded down $0.13 during midday trading on Thursday, hitting $18.23. 3,522,910 shares of the company's stock were exchanged, compared to its average volume of 2,965,539. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.42 billion, a PE ratio of 40.51 and a beta of 0.87. Rayonier Inc. has a 12 month low of $17.91 and a 12 month high of $27.06. The company's 50 day moving average price is $20.76 and its 200 day moving average price is $20.88.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter last year, the firm posted $0.06 EPS. The company's quarterly revenue was up 272.3% on a year-over-year basis. As a group, analysts predict that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Wednesday, September 16th. Rayonier's dividend payout ratio (DPR) is currently 231.11%.

Hedge Funds Weigh In On Rayonier

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Rayonier by 141.8% during the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust's stock worth $33,420,000 after acquiring an additional 950,473 shares during the period. Fieldview Capital Management LLC bought a new stake in shares of Rayonier during the 4th quarter valued at $1,936,000. World Investment Advisors bought a new stake in shares of Rayonier during the 1st quarter valued at $6,980,000. Vestcor Inc grew its holdings in shares of Rayonier by 3,590.1% during the 4th quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust's stock worth $2,776,000 after purchasing an additional 124,756 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust's stock worth $101,563,000 after purchasing an additional 1,463,118 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on RYN shares. Citigroup upped their price target on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Truist Financial reduced their price objective on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $24.80.

About Rayonier

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier's timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.

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