Rayonier (NYSE:RYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $39.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.51% from the stock’s current price.

According to Zacks, “Shares of Rayonier have outperformed the industry it belongs to in the past three months. Moreover, the stock has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in a month’s time. Notably, the company’s fourth-quarter 2017 results mirrored solid performance in the Pacific Northwest Timber, New Zealand Timber and Real Estate segments. Rayonier’s portfolio of timberlands reflects geographical diversity and the company is likely to benefit from the developments in biogenetics & cloning that help in fast growth of trees. The company has also upgraded its U.S. South portfolio through strategic acquisitions and is expected to gain from the recovery in the nation’s housing sector. However, the company faces competition from its substitutes and other market players in the timberland sector. Rate hike and regulatory requirements also add to its woes.”

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Several other equities analysts have also issued reports on RYN. Citigroup began coverage on shares of Rayonier in a report on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $30.00 price target on shares of Rayonier in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Rayonier has a consensus rating of “Hold” and an average price target of $34.25.

Rayonier (NYSE:RYN) opened at $35.29 on Tuesday. The stock has a market cap of $4,572.16, a P/E ratio of 30.42, a P/E/G ratio of 10.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.68. Rayonier has a 1-year low of $26.84 and a 1-year high of $35.94.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The company had revenue of $186.30 million for the quarter, compared to analyst estimates of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. Rayonier’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. equities analysts predict that Rayonier will post 0.65 EPS for the current year.

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Rayonier during the fourth quarter worth $168,000. Advisor Group Inc. lifted its stake in shares of Rayonier by 73.0% during the fourth quarter. Advisor Group Inc. now owns 6,618 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 2,793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rayonier by 46.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 2,229 shares during the period. Gamble Jones Investment Counsel acquired a new stake in shares of Rayonier during the fourth quarter worth $237,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Rayonier during the fourth quarter worth $252,000. Institutional investors and hedge funds own 84.27% of the company’s stock.

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Rayonier Company Profile

Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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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