Rayonier (NYSE:RYN) Sets New 52-Week Low – Time to Sell?

Rayonier Inc. (NYSE:RYN) reached a new 52-week low on Wednesday . The stock traded as low as $25.32 and last traded at $25.49, with a volume of 46206 shares changing hands. The stock had previously closed at $26.11.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial reduced their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday.

Rayonier Trading Down 3.0 %

The stock has a fifty day moving average of $29.16 and a 200-day moving average of $29.98. The company has a market cap of $3.72 billion, a PE ratio of 23.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is currently 107.55%.

Rayonier announced that its board has authorized a stock buyback plan on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier in the 3rd quarter worth $25,000. Venturi Wealth Management LLC raised its holdings in shares of Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares in the last quarter. Blue Trust Inc. lifted its stake in Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,042 shares during the period. Quest Partners LLC bought a new position in Rayonier during the 2nd quarter worth about $40,000. Finally, GAMMA Investing LLC increased its position in Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 shares during the period. Institutional investors own 89.12% of the company’s stock.

About Rayonier

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.