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

Rayonier Inc. (NYSE:RYNGet Free Report) has been assigned a consensus recommendation of “Hold” from the two brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $34.00.

A number of analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research note on Friday, June 14th. StockNews.com downgraded Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th.

View Our Latest Report on RYN

Rayonier Price Performance

Shares of NYSE RYN opened at $27.80 on Tuesday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 24.82 and a beta of 1.05. The stock has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $31.51. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. Rayonier has a 1-year low of $24.84 and a 1-year high of $35.29.

Rayonier (NYSE:RYNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. Analysts anticipate that Rayonier will post 0.46 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.285 per share. The ex-dividend date was Friday, June 14th. This represents a $1.14 annualized dividend and a yield of 4.10%. Rayonier’s dividend payout ratio is currently 101.79%.

Institutional Trading of Rayonier

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in shares of Rayonier in the first quarter worth $26,000. GAMMA Investing LLC raised its holdings in shares of Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 376 shares in the last quarter. Covestor Ltd boosted its position in shares of Rayonier by 488.6% during the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 1,290 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Rayonier during the 1st quarter valued at about $62,000. Finally, Signaturefd LLC grew its holdings in shares of Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier

(Get Free Report

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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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