Rayonier (NYSE:RYN) Releases Earnings Results, Beats Expectations By $0.04 EPS

Rayonier (NYSE:RYNGet Rating) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04, MarketWatch Earnings reports. Rayonier had a net margin of 15.00% and a return on equity of 6.03%. The business had revenue of $222.00 million for the quarter, compared to analysts’ expectations of $228.87 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 16.0% compared to the same quarter last year.

RYN traded down $0.74 during trading on Friday, reaching $39.00. 967,857 shares of the company’s stock were exchanged, compared to its average volume of 551,983. Rayonier has a 1 year low of $33.58 and a 1 year high of $45.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.95 and a quick ratio of 1.83. The stock has a market capitalization of $5.68 billion, a P/E ratio of 32.50 and a beta of 0.83. The company’s fifty day simple moving average is $42.19 and its 200-day simple moving average is $39.77.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 17th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, March 16th. Rayonier’s payout ratio is currently 90.00%.

In other Rayonier news, SVP Douglas M. Long sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $42.61, for a total transaction of $59,654.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO April J. Tice sold 1,850 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $41.76, for a total transaction of $77,256.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Large investors have recently bought and sold shares of the company. Guggenheim Capital LLC purchased a new position in shares of Rayonier during the 4th quarter valued at approximately $206,000. LPL Financial LLC increased its holdings in shares of Rayonier by 28.6% during the 3rd quarter. LPL Financial LLC now owns 14,412 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 3,207 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Rayonier during the 4th quarter valued at approximately $665,000. MML Investors Services LLC purchased a new position in shares of Rayonier during the 4th quarter valued at approximately $768,000. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Rayonier by 11.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 25,592 shares of the real estate investment trust’s stock valued at $1,033,000 after purchasing an additional 2,600 shares in the last quarter. 90.40% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on RYN shares. StockNews.com started coverage on shares of Rayonier in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research lowered shares of Rayonier from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research report on Wednesday, April 6th.

Rayonier Company Profile (Get Rating)

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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

Further Reading

Earnings History for Rayonier (NYSE:RYN)

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