Rayonier (NYSE:RYN) Downgraded by Wall Street Zen to “Sell”

Rayonier (NYSE:RYN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Citigroup cut their price target on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Royal Bank Of Canada lifted their price objective on shares of Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. Finally, Truist Financial dropped their price target on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.00.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.49 on Friday. The stock’s 50-day simple moving average is $22.67 and its two-hundred day simple moving average is $23.73. Rayonier has a twelve month low of $20.75 and a twelve month high of $28.31. The firm has a market capitalization of $6.49 billion, a P/E ratio of 7.04 and a beta of 0.98. The company has a quick ratio of 3.39, a current ratio of 3.26 and a debt-to-equity ratio of 0.38.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.Rayonier’s revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, equities analysts anticipate that Rayonier will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier

Several institutional investors and hedge funds have recently bought and sold shares of RYN. Global Alpha Capital Management Ltd. boosted its stake in Rayonier by 22.1% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,700,299 shares of the real estate investment trust’s stock worth $37,713,000 after acquiring an additional 308,200 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Rayonier by 25.7% during the second quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock valued at $81,807,000 after purchasing an additional 754,076 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Rayonier during the third quarter valued at approximately $674,000. Prudential Financial Inc. boosted its position 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 purchasing an additional 79,553 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co bought a new position in Rayonier during the 2nd quarter valued at approximately $542,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

About Rayonier

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.