Key Points
- Insider sale: Rayonier EVP Mark Bridwell sold 5,318 shares at an average price of $20.19, totaling $107,370.42. His remaining stake is 131,661 shares, a 3.88% reduction.
- Quarterly performance: Rayonier reported earnings of $0.10 per share, in line with estimates, while revenue reached $396.51 million—up 272.3% year over year and above expectations.
- Dividend and outlook: The company declared a quarterly dividend of $0.26, equivalent to a 5.1% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $24.80.
Rayonier Inc. (NYSE:RYN - Get Free Report) EVP Mark Bridwell sold 5,318 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares in the company, valued at $2,658,235.59. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Rayonier Price Performance
Shares of NYSE RYN opened at $20.25 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.06. The firm has a market capitalization of $6.03 billion, a P/E ratio of 45.01 and a beta of 0.87. The company's fifty day moving average is $21.26 and its two-hundred day moving average is $21.04.
Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter last year, the firm posted $0.06 EPS. The business's revenue was up 272.3% compared to the same quarter last year. Analysts forecast that Rayonier Inc. will post 0.44 EPS for the current fiscal year.
Rayonier Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Rayonier's dividend payout ratio (DPR) is 231.11%.
Institutional Investors Weigh In On Rayonier
A number of large investors have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier during the fourth quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 627 shares during the last quarter. Bayban acquired a new stake in shares of Rayonier in the first quarter valued at approximately $36,000. Whittier Trust Co. increased its stake in shares of Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 969 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Rayonier during the 1st quarter worth approximately $51,000. 89.12% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RYN has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Citigroup raised their price objective on Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Weiss Ratings raised Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 21st. Finally, BMO Capital Markets decreased their target price on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.80.
View Our Latest Analysis on Rayonier
About Rayonier
(
Get Free Report)
Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.
Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.
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