Mark Bridwell Sells 5,318 Shares of Rayonier (NYSE:RYN) Stock

Rayonier Inc. (NYSE:RYN) EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the transaction, the executive vice president directly owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rayonier Price Performance

Shares of RYN stock traded down $0.03 during mid-day trading on Friday, reaching $20.25. The company’s stock had a trading volume of 3,319,081 shares, compared to its average volume of 2,899,687. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.06. The company has a market cap of $6.03 billion, a P/E ratio of 45.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The firm’s 50-day moving average is $21.28 and its two-hundred day moving average is $21.05.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm’s revenue was up 272.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. On average, research analysts predict that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is presently 231.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. Citigroup upped their price target on Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Truist Financial dropped their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.80.

Hedge Funds Weigh In On Rayonier

A number of large investors have recently modified their holdings of RYN. Royal Bank of Canada grew its stake in shares of Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after purchasing an additional 36,344 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Rayonier in the 1st quarter worth approximately $501,000. United Services Automobile Association acquired a new position in Rayonier during the 1st quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Rayonier by 30.9% in the 1st 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 last quarter. Finally, Invesco Ltd. boosted its position in Rayonier by 16.9% in the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock valued at $19,157,000 after buying an additional 124,574 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Company Profile

Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier’s timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.