BMO Capital Markets upgraded shares of Rayonier (NYSE:RYN) from an underperform rating to a market perform rating in a report published on Friday morning, MarketBeat.com reports. BMO Capital Markets currently has $28.98 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Raymond James set a $32.00 price target on shares of Rayonier and gave the stock a buy rating in a research report on Tuesday, January 8th. ValuEngine cut shares of Rayonier from a buy rating to a hold rating in a research report on Tuesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $34.25.

Shares of RYN stock opened at $28.55 on Friday. The company has a current ratio of 3.27, a quick ratio of 2.54 and a debt-to-equity ratio of 0.59. Rayonier has a one year low of $26.30 and a one year high of $39.73. The stock has a market cap of $3.70 billion, a PE ratio of 36.14, a P/E/G ratio of 9.41 and a beta of 0.72.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Rayonier had a return on equity of 6.01% and a net margin of 12.52%. The company had revenue of $166.10 million for the quarter, compared to the consensus estimate of $157.34 million. During the same period in the previous year, the business posted $0.02 EPS. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, analysts anticipate that Rayonier will post 0.61 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of RYN. Vanguard Group Inc lifted its holdings in Rayonier by 9.9% in the third quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after acquiring an additional 1,773,986 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rayonier by 9.9% in the third quarter. Vanguard Group Inc. now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after acquiring an additional 1,773,986 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Rayonier by 2,669.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,418,448 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,367,222 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Rayonier by 191.7% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,245,414 shares of the real estate investment trust’s stock worth $42,107,000 after acquiring an additional 818,534 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Rayonier by 31.6% in the third quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock worth $105,464,000 after acquiring an additional 748,900 shares during the last quarter. 85.24% of the stock is currently 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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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