Rayonier Inc. (RYN) Lowered to “Neutral” at DA Davidson
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Rayonier from a buy rating to a hold rating in a research note on Tuesday, January 3rd. Vertical Research lowered Rayonier from a buy rating to a hold rating in a research note on Wednesday. RBC Capital Markets reaffirmed a hold rating and set a $27.00 price target on shares of Rayonier in a research note on Friday, January 6th. Finally, Raymond James Financial, Inc. raised Rayonier from a market perform rating to an outperform rating in a research note on Monday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $29.00.
Shares of Rayonier (NYSE:RYN) opened at 28.39 on Thursday. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 16.42 and a beta of 0.37. Rayonier has a 12 month low of $20.76 and a 12 month high of $29.36. The firm’s 50-day moving average price is $27.80 and its 200-day moving average price is $27.06.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 8th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $142.80 million for the quarter, compared to analyst estimates of $127.77 million. Rayonier had a return on equity of 4.85% and a net margin of 26.89%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts anticipate that Rayonier will post $0.46 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in shares of Rayonier by 3.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,267 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 1,160 shares during the period. Barings LLC purchased a new position in shares of Rayonier during the fourth quarter valued at about $423,000. CAMG Solamere Management LLC purchased a new position in shares of Rayonier during the fourth quarter valued at about $463,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Rayonier by 75.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,141 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 8,256 shares during the period. Finally, Soros Fund Management LLC purchased a new position in shares of Rayonier during the fourth quarter valued at about $253,000. 84.66% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. Its Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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