Rayonier (NYSE:RYN) Hits New 1-Year Low - Here's Why

Rayonier Inc. (NYSE:RYN - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $27.25 and last traded at $27.25, with a volume of 301910 shares. The stock had previously closed at $27.79.

Wall Street Analyst Weigh In

A number of research firms recently commented on RYN. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Truist Financial upped their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a report on Tuesday, October 15th.

Rayonier Trading Down 3.3 %

The business has a 50 day simple moving average of $31.03 and a two-hundred day simple moving average of $30.45. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a market cap of $4.01 billion, a PE ratio of 25.36 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $195.00 million for the quarter, compared to analysts' expectations of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. On average, analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be given a dividend of $1.80 per share. This is a positive change from Rayonier's previous special dividend of $0.20. Rayonier's dividend payout ratio is 107.55%.

Rayonier declared that its Board of Directors has authorized a share buyback plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Rayonier

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier during the 3rd quarter worth about $25,000. Venturi Wealth Management LLC lifted its position in Rayonier by 165.1% during 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 buying an additional 672 shares in the last quarter. Blue Trust Inc. grew its stake in Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after buying an additional 1,042 shares during the period. Quest Partners LLC purchased a new stake in Rayonier during the second quarter worth approximately $40,000. Finally, Fifth Third Bancorp increased its position in shares of Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

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.

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