Rayonier (NYSE:RYN) Sets New 52-Week Low – Time to Sell?

Rayonier Inc. (NYSE:RYN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $25.32 and last traded at $25.49, with a volume of 46206 shares changing hands. The stock had previously closed at $26.11.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial decreased their price objective on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday.

Rayonier Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The stock has a fifty day moving average of $29.16 and a 200 day moving average of $29.98. The company has a market capitalization of $3.72 billion, a PE ratio of 23.55 and a beta of 1.04.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. Rayonier’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. As a group, sell-side analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be given a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Rayonier declared that its board has authorized a stock repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Rayonier

Several hedge funds have recently modified their holdings of RYN. State Street Corp increased its position in Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock worth $107,890,000 after buying an additional 695,810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock worth $78,579,000 after buying an additional 7,733 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of Rayonier by 2.9% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock valued at $33,278,000 after buying an additional 28,800 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Rayonier by 56.7% in the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after acquiring an additional 272,349 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.