Rayonier (NYSE:RYN) Hits New 52-Week Low - What's Next?

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

Wall Street Analyst Weigh In

Several brokerages recently commented on RYN. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Truist Financial cut their target price on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday.

Rayonier Price Performance

The stock's 50 day moving average price is $29.27 and its 200-day moving average price is $30.01. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.84 billion, a PE ratio of 24.28 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $195.00 million during 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%. Rayonier's quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. As a group, equities analysts forecast that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be issued a dividend of $1.80 per share. This is an increase from Rayonier's previous special dividend of $0.20. Rayonier's dividend payout ratio (DPR) is presently 107.55%.

Rayonier declared that its board has initiated a share repurchase program on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Rayonier

Several hedge funds have recently modified their holdings of RYN. Nordea Investment Management AB raised its stake in Rayonier by 6.6% in the fourth quarter. Nordea Investment Management AB now owns 195,369 shares of the real estate investment trust's stock worth $5,087,000 after buying an additional 12,028 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 511 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Rayonier in the 3rd quarter worth $351,000. Vestcor Inc purchased a new stake in shares of Rayonier during the 3rd quarter worth $1,749,000. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Rayonier by 9.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 69,150 shares of the real estate investment trust's stock worth $2,225,000 after purchasing an additional 6,140 shares during the last quarter. Hedge funds and other 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.