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

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

RYN has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Citigroup increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rayonier in a report on Tuesday, October 14th.

Rayonier Stock Performance

Shares of NYSE RYN opened at $22.07 on Wednesday. The company’s fifty day moving average price is $25.58 and its 200 day moving average price is $24.53. Rayonier has a 1 year low of $21.84 and a 1 year high of $32.88. The company has a market capitalization of $3.40 billion, a PE ratio of 4.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50.

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

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s dividend payout ratio (DPR) is presently 22.02%.

Hedge Funds Weigh In On Rayonier

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Securian Asset Management Inc. lifted its holdings in Rayonier by 4.6% during the first quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust’s stock valued at $296,000 after purchasing an additional 466 shares in the last quarter. Hollencrest Capital Management lifted its holdings in Rayonier by 5.1% during the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 509 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Rayonier by 2.8% during the first quarter. Voya Investment Management LLC now owns 19,266 shares of the real estate investment trust’s stock valued at $537,000 after purchasing an additional 521 shares in the last quarter. Hamilton Point Investment Advisors LLC lifted its holdings in Rayonier by 4.5% during the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 563 shares in the last quarter. Finally, Timber Creek Capital Management LLC lifted its holdings in Rayonier by 4.5% during the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 596 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.