Rayonier (NYSE:RYN) Issues Earnings Results

Rayonier (NYSE:RYN) posted its earnings results on Wednesday. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, Zacks reports. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The business had revenue of $276.80 million during the quarter, compared to the consensus estimate of $280.92 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm’s revenue was up 233.9% on a year-over-year basis.

Rayonier Stock Up 2.3%

Shares of NYSE RYN opened at $21.19 on Thursday. The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.38. Rayonier has a 12-month low of $19.49 and a 12-month high of $27.33. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 6.95 and a beta of 0.90. The firm’s 50-day moving average price is $20.97 and its 200-day moving average price is $21.99.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Tuesday, March 17th. Rayonier’s dividend payout ratio is currently 34.10%.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a research report on Friday, March 27th. Raymond James Financial raised shares of Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research report on Thursday, April 16th. Finally, Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Rayonier currently has an average rating of “Hold” and a consensus price target of $25.50.

Insider Transactions at Rayonier

In other Rayonier news, Chairman Eric J. Cremers sold 169,200 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the transaction, the chairman directly owned 709,583 shares in the company, valued at $15,213,459.52. This represents a 19.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Wayne Wasechek sold 2,920 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RYN. Royal Bank of Canada raised its holdings in shares of Rayonier by 29.6% in the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock worth $4,436,000 after buying an additional 36,344 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Rayonier during the first quarter valued at $501,000. United Services Automobile Association acquired a new stake in Rayonier during the first quarter valued at $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rayonier by 30.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock valued at $15,463,000 after buying an additional 130,985 shares during the period. Finally, Invesco Ltd. grew its position in shares of Rayonier by 16.9% in the second quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock valued at $19,157,000 after purchasing an additional 124,574 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.