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

Rayonier Inc. (NYSE:RYN - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $26.02 and last traded at $26.21, with a volume of 1033263 shares. The stock had previously closed at $26.42.

Analyst Ratings Changes

RYN has been the topic of a number of analyst reports. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Truist Financial lifted 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 Performance

The stock has a market cap of $3.94 billion, a P/E ratio of 24.93 and a beta of 1.02. The firm has a 50 day moving average of $30.51 and a two-hundred day moving average of $30.32. 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 - Get Free Report) last posted its quarterly earnings data 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). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. During the same period in the prior year, the company posted $0.13 earnings per share. The firm's revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders 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 payout ratio is presently 107.55%.

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

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Rayonier by 1.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust's stock worth $828,000 after acquiring an additional 368 shares during the period. Sei Investments Co. raised its holdings in shares of Rayonier by 1.3% in the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust's stock worth $883,000 after buying an additional 391 shares in the last quarter. CWM LLC raised its holdings in shares of Rayonier by 20.6% in the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust's stock worth $92,000 after buying an additional 487 shares in the last quarter. Bank of Montreal Can boosted its stake in Rayonier by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust's stock valued at $716,000 after buying an additional 490 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Rayonier by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 40,939 shares of the real estate investment trust's stock valued at $1,317,000 after buying an additional 600 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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.