Rayonier (NYSE:RYN) Stock Breaks Above 50 Day Moving Average – What’s Next?

Rayonier Inc. (NYSE:RYN) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $19.48 and traded as high as $20.38. Rayonier shares last traded at $20.1820, with a volume of 4,530,409 shares.

Analyst Upgrades and Downgrades

RYN has been the subject of several research analyst reports. Royal Bank Of Canada cut their target price on shares of Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, October 16th. Seaport Research Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rayonier in a report on Thursday, October 8th. Citigroup decreased their target price on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Finally, Truist Financial lowered their target price on shares of Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.80.

Rayonier Stock Up 4.1%

The company has a market cap of $6.01 billion, a P/E ratio of 44.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The business’s 50 day moving average price is $19.48 and its 200-day moving average price is $20.97.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 272.3% on a year-over-year basis. On average, analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $1.04 dividend on an annualized basis and a yield of 5.2%. Rayonier’s dividend payout ratio is currently 231.11%.

Insider Buying and Selling at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the sale, the executive vice president directly owned 131,661 shares of the company’s stock, valued at $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 6,219 shares of company stock valued at $124,088 over the last ninety days. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Several hedge funds have recently added to or reduced their stakes in RYN. V Square Quantitative Management LLC bought a new stake in Rayonier during the 3rd quarter worth about $26,000. Whittier Trust Co. lifted its position in Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 969 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Rayonier by 124,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,498 shares during the last quarter. Basecamp Wealth Advisors LLC boosted its stake in shares of Rayonier by 109.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,571 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Rayonier by 810.5% in the 1st quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 2,383 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.