Seaport Res Ptn Reduces Earnings Estimates for Rayonier

Rayonier Inc. (NYSE:RYN - Free Report) - Investment analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Rayonier in a research report issued to clients and investors on Thursday, October 24th. Seaport Res Ptn analyst M. Weintraub now forecasts that the real estate investment trust will earn $0.37 per share for the year, down from their previous forecast of $0.38. The consensus estimate for Rayonier's current full-year earnings is $0.38 per share.

Several other research analysts also recently weighed in on RYN. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Truist Financial upped their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th.

Rayonier Stock Down 0.1 %

NYSE:RYN traded down $0.04 on Monday, hitting $31.43. The stock had a trading volume of 457,712 shares, compared to its average volume of 597,024. The company has a market cap of $4.68 billion, a PE ratio of 31.43 and a beta of 1.04. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The business's fifty day moving average is $31.32 and its 200 day moving average is $30.27. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier's revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS.

Institutional Investors Weigh In On Rayonier

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Rayonier in the third quarter worth $25,000. Advisors Asset Management Inc. purchased a new stake in Rayonier during the first quarter valued at about $26,000. GAMMA Investing LLC boosted its position in Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 376 shares during the period. Quest Partners LLC purchased a new position in shares of Rayonier in the second quarter worth about $40,000. Finally, Blue Trust Inc. raised its position in shares of Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 1,042 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now owns 40,168 shares of the company's stock, valued at approximately $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.83% of the company's stock.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.63%. Rayonier's dividend payout ratio (DPR) is 114.00%.

Rayonier Company Profile

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.