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

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $21.84 and last traded at $22.17, with a volume of 1251251 shares changing hands. The stock had previously closed at $22.12.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RYN shares. Truist Financial reduced their price objective on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reduced their price objective on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Raymond James Financial upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Rayonier currently has a consensus rating of "Hold" and a consensus price target of $27.75.

Rayonier Stock Up 2.7%

The stock has a market cap of $3.55 billion, a P/E ratio of 9.77 and a beta of 1.05. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average is $23.52 and its 200 day moving average is $25.31.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The business's revenue was down 27.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. As a group, equities research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.79%. Rayonier's payout ratio is 46.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RYN. Harvest Fund Management Co. Ltd bought a new position in shares of Rayonier during the 4th quarter worth about $25,000. American National Bank & Trust bought a new position in shares of Rayonier during the 1st quarter worth about $28,000. Elequin Capital LP bought a new position in shares of Rayonier during the 1st quarter worth about $30,000. Parallel Advisors LLC increased its holdings in shares of Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 642 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new stake in Rayonier in the first quarter valued at about $32,000. Institutional investors own 89.12% of the company's stock.

About Rayonier

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.