Rayonier (NYSE:RYN) EVP Mark Bridwell Sells 5,318 Shares of Stock

Key Points

• Rayonier EVP Mark Bridwell sold 5,318 shares at an average price of $20.19, generating approximately $107,370. He retained 131,661 shares after the transaction.
• Rayonier shares recently traded near $20.25, down 0.1%, and remain below their 50-day and 200-day moving averages. The stock has a 52-week range of $19.49 to $27.06.
• The REIT reported quarterly revenue of $396.5 million, up 272.3% year over year, while matching analyst expectations with $0.10 EPS. It also declared a quarterly dividend of $0.26, representing a 5.1% annualized yield.

Rayonier Inc. (NYSE:RYN - Get Free Report) EVP Mark Bridwell sold 5,318 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president directly owned 131,661 shares of the company's stock, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rayonier Stock Down 0.1%

NYSE:RYN traded down $0.03 during mid-day trading on Friday, reaching $20.25. The stock had a trading volume of 3,319,081 shares, compared to its average volume of 2,899,687. The stock has a market cap of $6.03 billion, a P/E ratio of 45.01 and a beta of 0.87. The business's 50 day moving average is $21.28 and its 200 day moving average is $21.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.06.

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

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Rayonier's dividend payout ratio is currently 231.11%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RYN. Weiss Ratings raised Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Citigroup boosted their target price on Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Truist Financial lowered their price target on Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Wednesday, July 15th. Finally, BMO Capital Markets dropped their price target on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $24.80.

Hedge Funds Weigh In On Rayonier

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Rayonier by 29.6% during the 1st quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust's stock worth $4,436,000 after purchasing an additional 36,344 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Rayonier in the first quarter valued at about $501,000. United Services Automobile Association acquired a new stake in Rayonier during the first quarter worth about $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Rayonier by 30.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust's stock valued at $15,463,000 after acquiring an additional 130,985 shares during the period. Finally, Invesco Ltd. raised its holdings in Rayonier by 16.9% in the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust's stock valued at $19,157,000 after acquiring an additional 124,574 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Company Profile

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.