Rayonier (NYSE:RYN) Sets New 1-Year Low - Time to Sell?

Key Points

• Rayonier shares hit a new 52-week low of $18.49, trading below both their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $24.80.
• The timberland REIT’s latest quarterly results met EPS expectations at $0.10 and exceeded revenue forecasts, with revenue rising 272.3% year over year to $396.5 million.
• Rayonier declared a quarterly dividend of $0.26 per share, equal to a 5.6% annualized yield, though its 231.11% payout ratio raises questions about dividend sustainability.

Rayonier Inc. (NYSE:RYN - Get Free Report)'s share price reached a new 52-week low on Wednesday. The company traded as low as $18.49 and last traded at $18.5650, with a volume of 892283 shares changing hands. The stock had previously closed at $18.58.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RYN shares. Truist Financial dropped their target price on Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings upgraded Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Finally, Citigroup boosted their price objective on Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Rayonier presently has a consensus rating of "Hold" and a consensus target price of $24.80.

Rayonier Stock Down 0.2%

The stock's fifty day moving average is $20.82 and its two-hundred day moving average is $20.89. 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 firm has a market cap of $5.52 billion, a P/E ratio of 41.28 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business's quarterly revenue was up 272.3% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. As a group, research analysts anticipate 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 paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 5.6%. Rayonier's dividend payout ratio (DPR) is currently 231.11%.

Insider Buying and Selling

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares in the company, valued at $2,658,235.59. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Rayonier

A number of large investors have recently modified their holdings of RYN. Envestnet Portfolio Solutions Inc. increased its position in shares of Rayonier by 231.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 71,878 shares of the real estate investment trust's stock worth $1,530,000 after purchasing an additional 50,185 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Rayonier by 7.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,117 shares of the real estate investment trust's stock worth $322,000 after buying an additional 1,111 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Rayonier by 193.9% in the 2nd quarter. Squarepoint Ops LLC now owns 128,602 shares of the real estate investment trust's stock worth $2,737,000 after buying an additional 84,843 shares during the last quarter. Waverly Advisors LLC increased its holdings in shares of Rayonier by 13.9% in the 2nd quarter. Waverly Advisors LLC now owns 99,991 shares of the real estate investment trust's stock worth $2,128,000 after buying an additional 12,211 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in shares of Rayonier during the 2nd quarter valued at $932,000. Institutional investors own 89.12% of the company's stock.

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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