Rayonier (NYSE:RYN) Sets New 12-Month Low - Should You Sell?

Rayonier Inc. (NYSE:RYN - Get Free Report) shares reached 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 trading hands. The stock had previously closed at $22.87.

Wall Street Analyst Weigh In

RYN has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their target price 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. Citigroup reduced their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Raymond James Financial upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Truist Financial decreased their price target 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The company has a fifty day moving average price of $23.73 and a two-hundred day moving average price of $25.57. The company has a market cap of $3.48 billion, a P/E ratio of 9.60 and a beta of 1.05.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly 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 company had revenue of $82.90 million for the quarter, compared to analyst estimates 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 period last year, the company posted $0.01 earnings per share. On average, sell-side analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.87%. Rayonier's payout ratio is 46.78%.

Institutional Trading of Rayonier

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYN. Norges Bank acquired a new stake in Rayonier in the 4th quarter valued at about $343,007,000. Deutsche Bank AG raised its stake in Rayonier by 730.8% in the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock valued at $47,748,000 after buying an additional 1,609,232 shares during the period. AQR Capital Management LLC raised its stake in Rayonier by 1,287.3% in the first quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust's stock valued at $41,991,000 after buying an additional 1,397,555 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $30,935,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Rayonier by 30.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock worth $117,195,000 after acquiring an additional 971,167 shares during the period. 89.12% of the stock is owned by institutional investors.

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.

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