Rayonier Inc. (NYSE:RYN) Receives $28.00 Consensus PT from Analysts

Rayonier Inc. (NYSE:RYN) has earned an average recommendation of “Hold” from the four research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $28.00.

Several research firms recently issued reports on RYN. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Royal Bank Of Canada increased 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, August 8th. Finally, Citigroup increased their price target on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st.

Institutional Investors Weigh In On Rayonier

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Rayonier by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust’s stock valued at $581,659,000 after purchasing an additional 456,363 shares in the last quarter. Norges Bank purchased a new position in shares of Rayonier in the 2nd quarter valued at about $304,538,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Rayonier by 15.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,842,552 shares of the real estate investment trust’s stock valued at $107,408,000 after acquiring an additional 639,000 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Rayonier by 24.4% in the 2nd quarter. Legal & General Group Plc now owns 4,193,530 shares of the real estate investment trust’s stock valued at $93,012,000 after acquiring an additional 823,311 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rayonier by 25.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock valued at $81,807,000 after acquiring an additional 754,076 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Price Performance

RYN opened at $26.78 on Tuesday. The stock’s 50-day moving average price is $25.04 and its 200 day moving average price is $24.89. Rayonier has a 12-month low of $21.84 and a 12-month high of $32.88. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 5.41 and a beta of 1.01.

Rayonier (NYSE:RYN) last posted its 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 return on equity of 3.39% and a net margin of 68.53%.The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. During the same quarter in the prior year, the company earned $0.02 EPS. Rayonier’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders of record on Tuesday, September 16th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. Rayonier’s dividend payout ratio (DPR) is currently 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.