Rayonier (NYSE:RYN) Shares Down 5.7% - Time to Sell?

Key Points

• Rayonier's stock price fell by 5.7% to $24.42, with trading volume increasing to over 1.1 million shares.
• Analysts have given Rayonier a mixed outlook, with a general average target price of $28.00 and a majority rating of "Hold."
• The company reported $0.06 earnings per share in its latest quarterly earnings, exceeding estimates, along with a special dividend of $1.40 per share set to be paid in December.

Rayonier Inc. (NYSE:RYN - Get Free Report)'s stock price traded down 5.7% on Tuesday . The company traded as low as $24.30 and last traded at $24.42. 1,127,933 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 1,082,804 shares. The stock had previously closed at $25.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rayonier in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Rayonier has an average rating of "Hold" and an average target price of $28.00.

Rayonier Trading Down 6.3%

The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 4.92 and a beta of 0.99. The firm's 50 day moving average is $26.20 and its two-hundred day moving average is $24.68. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. Rayonier's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. Equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, December 12th. Investors of record on Friday, October 24th will be paid a dividend of $1.40 per share. Rayonier's dividend payout ratio (DPR) is 22.02%.

Institutional Investors Weigh In On Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the business. Elequin Capital LP acquired a new stake in Rayonier during the first quarter worth about $30,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier in the first quarter valued at approximately $32,000. Allworth Financial LP increased its stake in shares of Rayonier by 213.7% in the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 829 shares during the period. GAMMA Investing LLC increased its stake in shares of Rayonier by 138.9% in the third quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 986 shares during the period. Finally, Caldwell Trust Co acquired a new stake in shares of Rayonier in the second quarter valued at approximately $39,000. 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.

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