Analysts Set Rayonier Inc. (NYSE:RYN) Price Target at $27.75

Rayonier Inc. (NYSE:RYN) has received an average recommendation of “Hold” from the four ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.75.

Several brokerages have recently weighed in on RYN. Citigroup cut their price objective on shares of Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Royal Bank Of Canada raised their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Finally, Truist Financial cut their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd.

Institutional Trading of Rayonier

A number of hedge funds have recently made changes to their positions in RYN. Norges Bank bought a new position in Rayonier during the second quarter worth $304,538,000. Deutsche Bank AG raised its stake in shares of Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock valued at $47,748,000 after purchasing an additional 1,609,232 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Rayonier by 1,287.3% during the first quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust’s stock valued at $41,991,000 after purchasing an additional 1,397,555 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Rayonier by 30.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust’s stock valued at $117,195,000 after purchasing an additional 971,167 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Rayonier during the first quarter valued at about $26,187,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Price Performance

Rayonier stock opened at $26.36 on Friday. Rayonier has a 12-month low of $21.84 and a 12-month high of $32.88. The stock has a market capitalization of $4.06 billion, a P/E ratio of 5.33 and a beta of 1.00. The firm’s 50-day moving average is $23.72 and its two-hundred day moving average is $24.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $95.30 million. During the same period last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that Rayonier will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.1%. Rayonier’s dividend payout ratio (DPR) is presently 22.02%.

Rayonier Company Profile

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.