Insider Selling: Rayonier Inc. (NYSE:RYN) Director Sells 10,011 Shares of Stock

Rayonier Inc. (NYSE:RYN - Get Free Report) Director V. Larkin Martin sold 10,011 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares of the company's stock, valued at approximately $1,227,935.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rayonier Price Performance

Shares of RYN stock traded up $0.54 on Friday, reaching $32.03. The company's stock had a trading volume of 629,135 shares, compared to its average volume of 596,787. The stock's fifty day simple moving average is $29.86 and its 200-day simple moving average is $30.64. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.60 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results 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). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm's revenue for the quarter was down 16.9% compared to the same quarter last year. Analysts forecast that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.285 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.56%. Rayonier's dividend payout ratio is currently 101.79%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in Rayonier during the 1st quarter worth about $26,000. GAMMA Investing LLC raised its holdings 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 last quarter. Quest Partners LLC acquired a new position in shares of Rayonier in the second quarter worth $40,000. Fifth Third Bancorp increased its stake in Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 660 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in Rayonier by 2,272.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 1,500 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RYN shares. Truist Financial cut their target price on shares of Rayonier from $34.00 to $31.00 and set a "hold" rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th.

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.