Rayonier (NYSE:RYN) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Rayonier (NYSE:RYN) from an outperform rating to a strong-buy rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $28.00 price target on the real estate investment trust’s stock, up from their previous price target of $26.00.

A number of other equities research analysts have also recently weighed in on RYN. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Truist Financial decreased their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. Citigroup dropped their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $25.00 target price on shares of Rayonier in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and a consensus target price of $25.75.

Rayonier Stock Up 5.0%

Shares of NYSE:RYN opened at $23.62 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.39. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 7.75 and a beta of 0.98. The company has a 50 day moving average of $22.58 and a 200-day moving average of $23.87. Rayonier has a one year low of $21.06 and a one year high of $28.31.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The business had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Rayonier will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Rayonier

Several institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Rayonier by 17.2% during the second quarter. Nordea Investment Management AB now owns 225,389 shares of the real estate investment trust’s stock worth $4,959,000 after purchasing an additional 33,071 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in Rayonier by 22.1% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,700,299 shares of the real estate investment trust’s stock valued at $37,713,000 after buying an additional 308,200 shares during the period. JPMorgan Chase & Co. raised its position in Rayonier by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock worth $81,807,000 after buying an additional 754,076 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Rayonier during the 3rd quarter worth $674,000. Finally, Prudential Financial Inc. lifted its stake in shares of Rayonier by 102.7% in the 2nd quarter. Prudential Financial Inc. now owns 156,988 shares of the real estate investment trust’s stock worth $3,482,000 after acquiring an additional 79,553 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.