Rayonier (NYSE:RYN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other analysts also recently commented on the company. Truist Financial lowered their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada upped their target price on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Citigroup lowered their target price on Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.75.

Rayonier Stock Down 0.6%

Shares of RYN stock opened at $25.90 on Friday. The stock’s 50-day simple moving average is $23.47 and its 200-day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.60 and a current ratio of 3.50. The firm has a market capitalization of $4.03 billion, a PE ratio of 5.23 and a beta of 1.00. Rayonier has a fifty-two week low of $21.84 and a fifty-two week high of $32.88.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 earnings per share. Equities analysts expect that Rayonier will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.2%. Rayonier’s dividend payout ratio is currently 22.02%.

Hedge Funds Weigh In On Rayonier

Hedge funds have recently bought and sold shares of the business. American National Bank & Trust purchased a new position in Rayonier during the first quarter worth approximately $28,000. Elequin Capital LP purchased a new position in Rayonier during the first quarter worth approximately $30,000. Parallel Advisors LLC boosted its position in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 642 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in Rayonier during the first quarter worth approximately $32,000. Finally, Allworth Financial LP boosted its position in Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other 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.