Insider Selling: Rayonier Inc. (NYSE:RYN) Director Sells 10,011 Shares of Stock

Rayonier Inc. (NYSE:RYN) Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rayonier Stock Up 2.1 %

RYN stock opened at $31.49 on Friday. The stock has a market cap of $4.69 billion, a PE ratio of 28.12 and a beta of 1.04. The firm’s 50-day simple moving average is $29.78 and its 200 day simple moving average is $30.65. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. 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 announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. As a group, sell-side analysts predict that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 3.62%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s payout ratio is currently 101.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RYN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a research note on Friday, June 14th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Truist Financial cut their price target on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new stake in shares of Rayonier in the 1st quarter worth approximately $26,000. GAMMA Investing LLC boosted its stake in Rayonier by 53.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Rayonier during the 2nd quarter valued at $40,000. Fifth Third Bancorp raised its stake in shares of Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 660 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

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.