Rayonier Inc. (NYSE:RYN) Stock Has Average Target Price of $23.20

Rayonier Inc. (NYSE:RYN) has received a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.20.

RYN has been the topic of several recent research reports. Seaport Research Partners reiterated a “buy” rating and issued a $30.00 price objective on shares of Rayonier in a research report on Thursday, October 8th. Truist Financial decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Royal Bank Of Canada raised their price target on shares of Rayonier from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Friday. Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Citigroup cut their price target on Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 5th.

Rayonier Stock Down 1.6%

Shares of Rayonier stock opened at $21.56 on Friday. The company has a current ratio of 1.77, a quick ratio of 2.91 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $19.47 and its 200-day simple moving average is $20.90. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 37.18 and a beta of 0.88. Rayonier has a twelve month low of $17.71 and a twelve month high of $24.82.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Rayonier had a return on equity of 2.69% and a net margin of 11.49%. The business had revenue of $565.57 million for the quarter, compared to the consensus estimate of $406.98 million. During the same quarter last year, the business posted $0.32 EPS. The business’s revenue was up 218.6% on a year-over-year basis. Equities research analysts forecast that Rayonier will post 0.42 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, December 17th. Rayonier’s dividend payout ratio is currently 179.31%.

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president directly owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 6,219 shares of company stock worth $124,088. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier during the third quarter worth $26,000. Sunbelt Securities Inc. lifted its position in shares of Rayonier by 124,900.0% in the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 2,498 shares during the last quarter. Basecamp Wealth Advisors LLC lifted its position in shares of Rayonier by 109.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,571 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 1,344 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Rayonier by 810.5% in the first quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 2,383 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Rayonier during the 2nd quarter worth about $62,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.