Key Points
- Insider transaction: SVP Ryan Daniels sold 887 Rayonier shares for approximately $16,463 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 1.62% to 53,713 shares.
- Financial performance and dividend: Rayonier matched quarterly earnings expectations at $0.10 per share, while revenue rose 272.3% year over year to $396.51 million. The company paid a quarterly dividend of $0.26, equivalent to a 5.7% annualized yield.
- Market outlook: Shares were trading near $18.23, close to their 52-week low, and analysts maintained a consensus “Hold” rating with an average price target of $24.80. Institutional investors own 89.12% of the stock.
Rayonier Inc. (NYSE:RYN - Get Free Report) SVP Ryan Daniels sold 887 shares of Rayonier stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $18.56, for a total value of $16,462.72. Following the completion of the sale, the senior vice president directly owned 53,713 shares in the company, valued at approximately $996,913.28. This represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rayonier Trading Down 0.7%
NYSE RYN opened at $18.23 on Friday. Rayonier Inc. has a 52 week low of $17.91 and a 52 week high of $27.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The stock's 50 day moving average price is $20.70 and its two-hundred day moving average price is $20.86. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 40.51 and a beta of 0.89.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The company had revenue of $396.51 million during the quarter, compared to analysts' expectations of $374.28 million. During the same period last year, the business earned $0.06 EPS. The business's quarterly revenue was up 272.3% on a year-over-year basis. As a group, analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.7%. Rayonier's dividend payout ratio (DPR) is 231.11%.
Institutional Investors Weigh In On Rayonier
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Rayonier during the 2nd quarter worth approximately $617,451,000. Legal & General Group Plc bought a new stake in Rayonier in the 2nd quarter valued at $213,574,000. Deprince Race & Zollo Inc. acquired a new stake in Rayonier during the 1st quarter valued at $85,771,000. Atlas FRM LLC acquired a new stake in Rayonier during the 2nd quarter valued at $83,843,200. Finally, Bank of New York Mellon Corp acquired a new stake in Rayonier during the 2nd quarter valued at $52,572,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on RYN shares. Citigroup boosted their price target on shares of Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Truist Financial decreased their price objective on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $24.80.
View Our Latest Report on RYN
Rayonier Company Profile
(
Get Free Report)
Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.
Rayonier's timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.
Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.
Further Reading
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