Key Points
- CFO Wayne Wasechek sold 2,920 shares at an average of $21.17 (total $61,816) under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his stake by 2.47% to 115,530 shares (~$2.45M).
- Rayonier beat quarterly EPS estimates ($0.20 vs. $0.12) despite revenue falling 24.4% year-over-year; the stock trades around $21.23 with a 12‑month range of $19.49–$27.33, a market cap of $6.41B and a P/E of 6.96.
- The company pays a quarterly dividend of $0.26 (annualized $1.04) for a yield of 4.9% and a 34.1% payout ratio; institutional investors own ~89.1% of the stock and analysts' consensus is a Hold with an average target of $25.50.
Rayonier Inc. (NYSE:RYN - Get Free Report) CFO Wayne Wasechek sold 2,920 shares of the business's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares of the company's stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rayonier Stock Down 0.8%
Shares of NYSE RYN opened at $21.23 on Wednesday. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 6.96 and a beta of 0.97. The business has a 50-day moving average of $21.28 and a 200-day moving average of $22.27.
Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.Rayonier's revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Sell-side analysts expect that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.
Rayonier Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 4.9%. Rayonier's dividend payout ratio is currently 34.10%.
Institutional Trading of Rayonier
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Rayonier by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust's stock valued at $458,434,000 after purchasing an additional 444,503 shares during the last quarter. Norges Bank bought a new stake in Rayonier in the fourth quarter valued at approximately $313,806,000. Cohen & Steers Inc. lifted its position in Rayonier by 5.6% in the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust's stock valued at $293,332,000 after purchasing an additional 717,021 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust's stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the last quarter. Finally, State Street Corp lifted its position in Rayonier by 5.0% in the fourth quarter. State Street Corp now owns 4,779,300 shares of the real estate investment trust's stock valued at $103,472,000 after purchasing an additional 226,012 shares during the last quarter. Institutional investors own 89.12% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on RYN. Truist Financial cut their target price on Rayonier from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Tuesday, January 6th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. Raymond James Financial raised Rayonier from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Rayonier in a research note on Friday, March 27th. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday. One investment 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 company presently has a consensus rating of "Hold" and an average price target of $25.50.
Read Our Latest Research Report on Rayonier
About Rayonier
(
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.
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