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

Key Points

• Rayonier shares fell to a new 52-week low of $19.48, trading below both their 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating with a $24.80 target price; Truist lowered its target to $24, while Citigroup raised its target to $23.
• The REIT reported earnings in line with estimates and revenue growth of 272.3% year over year, while offering a quarterly dividend of $0.26, equivalent to a 5.4% annual yield.

Rayonier Inc. (NYSE:RYN - Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $19.48 and last traded at $19.4060, with a volume of 670266 shares. The stock had previously closed at $19.86.

Analyst Ratings Changes

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

Rayonier Price Performance

The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $20.95. The firm has a market cap of $5.74 billion, a PE ratio of 42.83 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business's quarterly revenue was up 272.3% compared to the same quarter last year. Equities analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, September 16th. Rayonier's payout ratio is currently 231.11%.

Insider Transactions at Rayonier

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the business's stock in a transaction 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 sale, the executive vice president owned 131,661 shares in the company, valued at $2,658,235.59. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Rayonier

Several large investors have recently made changes to their positions in RYN. BlackRock Inc. purchased a new stake in shares of Rayonier in the second quarter worth about $617,451,000. Norges Bank purchased a new stake in shares of Rayonier during the 4th quarter worth approximately $313,806,000. Legal & General Group Plc purchased a new stake in shares of Rayonier during the 2nd quarter worth approximately $213,574,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Rayonier during the 1st quarter worth approximately $85,771,000. Finally, Atlas FRM LLC bought a new position in shares of Rayonier during the 2nd quarter valued at approximately $83,843,200. 89.12% of the stock is owned by institutional investors.

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.

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