Rayonier (NYSE:RYN) Upgraded at StockNews.com

StockNews.com upgraded shares of Rayonier (NYSE:RYN - Free Report) from a sell rating to a hold rating in a report published on Saturday.

Separately, Truist Financial upped their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th.

Rayonier Stock Performance

RYN traded up $0.25 on Friday, hitting $29.97. The company had a trading volume of 1,088,677 shares, compared to its average volume of 612,526. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 28.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.78. The company's fifty day moving average price is $31.46 and its 200 day moving average price is $30.30. Rayonier has a 1-year low of $27.40 and a 1-year high of $35.29.

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 return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same period in the prior year, the firm posted $0.13 EPS. Rayonier's revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts predict that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.285 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.80%. Rayonier's dividend payout ratio (DPR) is currently 107.55%.

Insider Transactions at Rayonier

In related 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 sale, the director now owns 40,168 shares of the company's stock, valued at $1,227,935.76. The trade was a 19.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Rayonier

A number of hedge funds and other institutional investors have recently bought and sold shares of RYN. Allspring Global Investments Holdings LLC grew its holdings in shares of Rayonier by 525.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 2,143 shares during the last quarter. Entropy Technologies LP bought a new stake in Rayonier during the 1st quarter worth about $238,000. State Board of Administration of Florida Retirement System increased its position in Rayonier by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 158,812 shares of the real estate investment trust's stock valued at $5,282,000 after acquiring an additional 7,267 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Rayonier by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust's stock worth $691,490,000 after acquiring an additional 67,646 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Rayonier by 488.6% during the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 1,290 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.