Rayonier (NYSE:RYN) Lowered to Market Perform at Raymond James

Raymond James lowered shares of Rayonier (NYSE:RYN) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Anlyst Ratings reports.

Separately, BidaskClub raised shares of Rayonier from a sell rating to a hold rating in a research report on Tuesday, December 8th.

Shares of RYN opened at $30.58 on Tuesday. The company has a market capitalization of $4.17 billion, a P/E ratio of 92.67 and a beta of 0.94. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $27.67 and a 200 day moving average of $27.00. Rayonier has a twelve month low of $15.96 and a twelve month high of $33.10.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Rayonier had a net margin of 5.47% and a return on equity of 1.92%. On average, sell-side analysts expect that Rayonier will post 0.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Wednesday, December 16th. Rayonier’s dividend payout ratio (DPR) is presently 234.78%.

In other Rayonier news, CFO Mark Mchugh sold 2,000 shares of Rayonier stock in a transaction that occurred on Wednesday, December 9th. The shares were sold at an average price of $30.05, for a total value of $60,100.00. Following the completion of the sale, the chief financial officer now owns 72,739 shares of the company’s stock, valued at approximately $2,185,806.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 12,000 shares of company stock valued at $327,600. 0.86% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of RYN. FMR LLC grew its position in Rayonier by 119.5% in the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 802 shares during the period. Swiss National Bank boosted its stake in shares of Rayonier by 15.1% during the 2nd quarter. Swiss National Bank now owns 288,700 shares of the real estate investment trust’s stock worth $7,157,000 after acquiring an additional 37,900 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Rayonier by 38.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 504,008 shares of the real estate investment trust’s stock worth $12,487,000 after acquiring an additional 140,339 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Rayonier by 122,000.0% during the 2nd quarter. Bessemer Group Inc. now owns 1,221 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Rayonier by 12.4% during the 2nd quarter. Principal Financial Group Inc. now owns 579,189 shares of the real estate investment trust’s stock worth $14,358,000 after acquiring an additional 63,841 shares during the last quarter. 85.86% of the stock is 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 September 30, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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