Rayonier (NYSE:RYN) Sets New 1-Year Low - Should You Sell?

Rayonier Inc. (NYSE:RYN - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $22.30 and last traded at $22.36, with a volume of 984155 shares traded. The stock had previously closed at $22.87.

Analyst Upgrades and Downgrades

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

Rayonier Trading Down 2.4%

The firm has a market capitalization of $3.45 billion, a P/E ratio of 9.50 and a beta of 1.05. The company has a quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $23.57 and a 200-day moving average price of $25.39.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The business's revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's dividend payout ratio is 46.78%.

Hedge Funds Weigh In On Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the business. Securian Asset Management Inc. raised its stake in shares of Rayonier by 4.6% during the first quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock worth $296,000 after buying an additional 466 shares during the last quarter. Shell Asset Management Co. increased its holdings in Rayonier by 4.5% in the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after purchasing an additional 497 shares during the last quarter. Hollencrest Capital Management increased its holdings in Rayonier by 5.1% in the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock valued at $293,000 after purchasing an additional 509 shares during the last quarter. Voya Investment Management LLC increased its holdings in Rayonier by 2.8% in the first quarter. Voya Investment Management LLC now owns 19,266 shares of the real estate investment trust's stock valued at $537,000 after purchasing an additional 521 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Rayonier by 30.0% in the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds 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.