Rayonier (NYSE:RYN) Shares Gap Up After Dividend Announcement

Rayonier Inc. (NYSE:RYN) gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $31.47, but opened at $32.74. Rayonier shares last traded at $32.09, with a volume of 40,170 shares traded.

The newly announced dividend which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be issued a $1.80 dividend. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is presently 107.55%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RYN shares. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th.

Rayonier Stock Up 1.1 %

The firm’s fifty day simple moving average is $31.38 and its 200 day simple moving average is $30.40. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 29.70 and a beta of 1.02.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier declared that its board has initiated a stock repurchase plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Rayonier in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in Rayonier by 53.5% in the second 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 during the last quarter. Venturi Wealth Management LLC increased 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 buying an additional 672 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Rayonier during the 2nd quarter worth $40,000. Finally, Blue Trust Inc. boosted its position in shares of Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,042 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.