Rayonier (NYSE:RYN) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Rayonier (NYSE:RYN) from a buy rating to a sell rating in a report released on Monday morning.

A number of other research analysts have also weighed in on RYN. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a report on Wednesday, March 12th. Truist Financial reduced their price objective on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada lowered their target price on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Citigroup reduced their price target on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Rayonier Stock Performance

Shares of RYN opened at $23.21 on Monday. The stock has a 50 day moving average of $26.05 and a 200 day moving average of $27.46. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 9.84 and a beta of 1.07. Rayonier has a 12 month low of $22.80 and a 12 month high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the company posted $0.01 earnings per share. Rayonier’s revenue for the quarter was down 27.1% on a year-over-year basis. As a group, sell-side analysts forecast that Rayonier will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier’s dividend payout ratio is currently 46.78%.

Hedge Funds Weigh In On Rayonier

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in Rayonier in the third quarter worth $351,000. GAMMA Investing LLC boosted its holdings in shares of Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 511 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Rayonier by 6.6% during the 4th quarter. Nordea Investment Management AB now owns 195,369 shares of the real estate investment trust’s stock valued at $5,087,000 after purchasing an additional 12,028 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Rayonier by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 857 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Rayonier during the 4th quarter valued at about $467,000. Institutional investors own 89.12% of the company’s stock.

About Rayonier

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.