Rayonier Inc. (NYSE:RYN) Receives Average Rating of “Hold” from Analysts

Shares of Rayonier Inc. (NYSE:RYN) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.80.

A number of equities research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Truist Financial reduced their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, BMO Capital Markets reduced their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th.

Institutional Trading of Rayonier

Hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. purchased a new stake in Rayonier in the 4th quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 627 shares during the period. Bayban acquired a new stake in shares of Rayonier in the first quarter worth approximately $36,000. Whittier Trust Co. boosted its position in shares of Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 969 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Rayonier in the first quarter worth approximately $51,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Up 0.0%

RYN opened at $21.21 on Tuesday. The firm has a market cap of $6.31 billion, a P/E ratio of 47.13 and a beta of 0.87. The business’s fifty day simple moving average is $21.48 and its 200 day simple moving average is $21.26. Rayonier has a 52 week low of $19.49 and a 52 week high of $27.10. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm’s revenue for the quarter was up 272.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. As a group, equities research analysts anticipate that Rayonier will post 0.42 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is presently 231.11%.

About Rayonier

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.