Rayonier Inc. (NYSE:RYN) Receives $28.00 Average Price Target from Brokerages

Rayonier Inc. (NYSE:RYN) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $28.00.

A number of research analysts recently issued reports on RYN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Saturday, September 27th. Royal Bank Of Canada boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Elequin Capital LP purchased a new position in shares of Rayonier during the 1st quarter worth approximately $30,000. Parallel Advisors LLC grew its holdings in shares of Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 642 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of Rayonier during the 1st quarter worth approximately $32,000. Allworth Financial LP grew its holdings in shares of Rayonier by 213.7% during the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 829 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in shares of Rayonier during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 1.2%

RYN opened at $26.59 on Friday. The company has a market cap of $4.10 billion, a P/E ratio of 5.37 and a beta of 0.99. The business’s 50-day moving average price is $25.95 and its 200-day moving average price is $24.73. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. Rayonier has a 12 month low of $21.84 and a 12 month high of $32.88.

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

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.2725 per share. The ex-dividend date was 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 is 22.02%.

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.