Rayonier (NYSE:RYN) Sets New 52-Week Low - What's Next?

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.70 and last traded at $22.67, with a volume of 179765 shares traded. The stock had previously closed at $22.93.

Analysts Set New Price Targets

A number of research firms have commented on RYN. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Wednesday, March 12th. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank of Canada cut their target price on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. 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. Finally, 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 report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.75.

Rayonier Trading Down 2.0%

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 firm has a market cap of $3.50 billion, a P/E ratio of 9.51 and a beta of 1.05. The firm's 50-day simple moving average is $23.98 and its 200 day simple moving average is $25.89.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the firm posted $0.01 EPS. The company's revenue for the quarter was down 27.1% compared to the same quarter last year. As a group, analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's dividend payout ratio (DPR) is presently 46.78%.

Institutional Investors Weigh In On Rayonier

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Rayonier in the 4th quarter worth approximately $25,000. American National Bank & Trust bought a new position in shares of Rayonier in the first quarter worth approximately $28,000. Elequin Capital LP purchased a new position in Rayonier in the 1st quarter worth approximately $30,000. Parallel Advisors LLC increased its holdings in shares of Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after buying an additional 642 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Rayonier during the 1st quarter valued at $32,000. 89.12% of the stock is currently owned by institutional investors.

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.

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