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

Rayonier Inc. (NYSE:RYN - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $23.53 and last traded at $23.66, with a volume of 56691 shares. The stock had previously closed at $25.04.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RYN shares. Royal Bank of Canada dropped their price objective on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Citigroup reduced their price objective on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Truist Financial dropped their price objective on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Rayonier has an average rating of "Hold" and a consensus target price of $29.00.

Rayonier Stock Performance

The stock has a fifty day moving average of $26.45 and a 200-day moving average of $28.30. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.84 billion, a PE ratio of 10.42 and a beta of 0.97.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, equities analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.43%. Rayonier's dividend payout ratio is presently 46.19%.

Institutional Investors Weigh In On Rayonier

Several institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in Rayonier during the fourth quarter worth $25,000. American National Bank & Trust purchased a new stake in shares of Rayonier in the 1st quarter worth about $28,000. Parallel Advisors LLC grew its stake in Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 642 shares during the last quarter. UMB Bank n.a. increased its holdings in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 525 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,217 shares during the last quarter. Hedge funds and other institutional investors 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.