Insider Selling: Rayonier Inc. (NYSE:RYN) Director Sells $306,036.27 in Stock

Rayonier Inc. (NYSE:RYN) Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rayonier Trading Up 1.7 %

Shares of Rayonier stock opened at $32.03 on Monday. The business has a fifty day simple moving average of $29.86 and a 200-day simple moving average of $30.60. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 28.60 and a beta of 1.04. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter last year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities analysts forecast that Rayonier Inc. will post 0.4 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s dividend payout ratio is presently 101.79%.

Institutional Investors Weigh In On Rayonier

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Rayonier by 3,240.9% in the 4th quarter. International Assets Investment Management LLC now owns 17,640 shares of the real estate investment trust’s stock worth $589,000 after purchasing an additional 17,112 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Rayonier by 4.4% during the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 344 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Rayonier by 669.4% in the 4th quarter. BNP Paribas Financial Markets now owns 67,600 shares of the real estate investment trust’s stock valued at $2,259,000 after acquiring an additional 58,814 shares in the last quarter. Jump Financial LLC acquired a new position in Rayonier in the 4th quarter worth approximately $615,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in Rayonier by 53.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,413 shares of the real estate investment trust’s stock worth $381,000 after purchasing an additional 3,954 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th. Truist Financial decreased their target price on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

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.