Insider Selling: Rayonier (NYSE:RYN) CFO Sells 2,920 Shares of Stock

Rayonier Inc. (NYSE:RYN) CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at $2,445,770.10. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rayonier Stock Performance

Shares of Rayonier stock traded down $0.11 on Tuesday, reaching $21.31. 575,052 shares of the company traded hands, compared to its average volume of 3,036,695. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.23. The firm has a market capitalization of $6.44 billion, a PE ratio of 6.98 and a beta of 0.97. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The company has a 50 day moving average of $21.31 and a 200 day moving average of $22.31.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $117.50 million during the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. Equities analysts forecast that Rayonier Inc. will post 0.42 earnings per share for the current year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. Rayonier’s dividend payout ratio is presently 34.10%.

Institutional Trading of Rayonier

Large investors have recently modified their holdings of the business. Hartford Financial Management Inc. bought a new stake in shares of Rayonier during the 3rd quarter worth $31,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier during the 4th quarter worth $34,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 627 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rayonier by 138.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 986 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Rayonier by 55.5% during the third quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 683 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RYN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a report on Friday, March 27th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday. Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. Truist Financial cut their target price on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.