Rayonier (NYSE:RYN) Shares Gap Down - What's Next?

Key Points

• Rayonier Inc.'s shares gapped down significantly, opening at $23.35 after a previous close of $24.67, reflecting a decline in market sentiment.
• Analysts have a consensus rating of "Hold" for Rayonier, with an average target price of $28.00 following recent adjustments in price targets from firms like Royal Bank of Canada and Citigroup.
• The company announced a quarterly dividend of $0.2725 to be paid on December 31st, offering a dividend yield of 4.7% and indicating a manageable payout ratio of 22.02%.

Rayonier Inc. (NYSE:RYN - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $24.67, but opened at $23.35. Rayonier shares last traded at $23.51, with a volume of 216,857 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank Of Canada upped 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. Weiss Ratings restated a "hold (c)" rating on shares of Rayonier in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup upped their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $28.00.

Rayonier Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 4.71 and a beta of 0.99. The business has a fifty day moving average of $26.03 and a two-hundred day moving average of $24.59.

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

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier's payout ratio is presently 22.02%.

Institutional Trading of Rayonier

Several institutional investors and hedge funds have recently modified their holdings of RYN. Allworth Financial LP lifted its position in shares of Rayonier by 213.7% during the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust's stock worth $27,000 after buying an additional 829 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Rayonier during the 1st quarter worth $30,000. GKV Capital Management Co. Inc. bought a new stake in shares of Rayonier during the 1st quarter worth $32,000. Caldwell Trust Co bought a new stake in shares of Rayonier during the 2nd quarter worth $39,000. Finally, GAMMA Investing LLC raised its position in 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 last quarter. 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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