Key Points
- Rayonier Chairman Eric Cremers sold 169,200 shares on Feb. 27 at an average price of $21.44 for a total of $3,627,648, reducing his stake by 19.25% to 709,583 shares (about $15.21M).
- Rayonier beat the quarter's EPS consensus ($0.20 vs. $0.12) with $117.5M in revenue, but revenue was down 24.4% year-over-year and analysts forecast roughly $0.55 EPS for the year.
- The company declared a quarterly dividend of $0.26 (annualized $1.04, ~4.8% yield), while the consensus analyst rating is a Hold with an average price target of $26.00.
Rayonier Inc. (NYSE:RYN - Get Free Report) Chairman Eric Cremers sold 169,200 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $21.44, for a total value of $3,627,648.00. Following the sale, the chairman owned 709,583 shares in the company, valued at $15,213,459.52. The trade was a 19.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Rayonier Price Performance
Shares of RYN opened at $21.66 on Tuesday. The company has a market cap of $6.55 billion, a P/E ratio of 7.10 and a beta of 0.98. The stock has a fifty day moving average price of $22.67 and a 200 day moving average price of $23.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.23. Rayonier Inc. has a 12 month low of $20.75 and a 12 month high of $28.31.
Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. The company had revenue of $117.50 million for the quarter, compared to analysts' expectations of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm's quarterly revenue was down 24.4% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Rayonier's payout ratio is 35.74%.
Institutional Investors Weigh In On Rayonier
Large investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. lifted its position in Rayonier by 22.1% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,700,299 shares of the real estate investment trust's stock worth $37,713,000 after acquiring an additional 308,200 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Rayonier by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust's stock worth $81,807,000 after purchasing an additional 754,076 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Rayonier during the 3rd quarter worth about $674,000. Prudential Financial Inc. boosted its stake in Rayonier by 102.7% during the 2nd quarter. Prudential Financial Inc. now owns 156,988 shares of the real estate investment trust's stock valued at $3,482,000 after purchasing an additional 79,553 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new stake in Rayonier in the 2nd quarter valued at approximately $542,000. 89.12% of the stock is owned by institutional investors.
Analyst Ratings Changes
RYN has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Rayonier in a research report on Monday, December 29th. Royal Bank Of Canada increased their target price on shares of Rayonier from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 17th. Citigroup lowered their target price on shares of Rayonier from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 12th. Raymond James Financial raised shares of Rayonier from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. Finally, Truist Financial decreased their price objective on shares of Rayonier from $28.00 to $26.00 and set a "hold" rating for the company in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.00.
View Our Latest Report on RYN
Rayonier Company Profile
(
Get Free Report)
Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.
Rayonier operates through two primary segments: Timber and Real Estate Solutions.
Further Reading
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