Rayonier (NYSE:RYN) Cut to Sell at StockNews.com

Rayonier (NYSE:RYN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, Truist Financial upped their price objective on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Rayonier Stock Performance

NYSE:RYN traded down $0.66 during midday trading on Friday, reaching $30.98. The stock had a trading volume of 1,209,305 shares, compared to its average volume of 599,361. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The stock has a market cap of $4.62 billion, a P/E ratio of 29.23 and a beta of 1.05. The firm has a fifty day simple moving average of $31.54 and a two-hundred day simple moving average of $30.31. Rayonier has a 12-month low of $27.40 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a return on equity of 2.93% and a net margin of 15.84%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. On average, equities analysts expect that Rayonier will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.83% of the company’s stock.

Institutional Trading of Rayonier

Several large investors have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new position in shares of Rayonier during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new position in Rayonier during the third quarter worth $25,000. GAMMA Investing LLC raised its holdings in shares of Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 376 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,042 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.