Rayonier (NYSE:RYN) Issues Earnings Results, Beats Estimates By $0.08 EPS

Rayonier (NYSE:RYN) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08, FiscalAI reports. The firm had revenue of $117.50 million for the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a return on equity of 4.74% and a net margin of 70.95%.The firm’s revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share.

Rayonier Stock Down 0.3%

Shares of RYN stock opened at $22.36 on Thursday. Rayonier has a 12 month low of $21.06 and a 12 month high of $28.31. The company has a quick ratio of 3.39, a current ratio of 3.44 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.61 billion, a PE ratio of 4.44 and a beta of 0.98. The stock has a 50 day moving average of $22.52 and a 200-day moving average of $23.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $25.00 price objective on shares of Rayonier in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. Truist Financial decreased their price target 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, Citigroup lowered their price objective on Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.50.

Hedge Funds Weigh In On Rayonier

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Rayonier by 65.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 627 shares during the period. Parallel Advisors LLC raised its position in shares of Rayonier by 77.9% during the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,073 shares during the last quarter. Vestcor Inc bought a new stake in shares of Rayonier in the third quarter valued at about $92,000. NewEdge Advisors LLC lifted its stake in shares of Rayonier by 22.5% in the third quarter. NewEdge Advisors LLC now owns 4,156 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 764 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Rayonier during the fourth quarter worth about $147,000. Institutional investors own 89.12% of the company’s stock.

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.