Rayonier Inc. (RYN) Lifted to Hold at BidaskClub
Rayonier Inc. (NYSE:RYN) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
RYN has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, August 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 price target on shares of Rayonier in a research note on Monday, July 31st. BMO Capital Markets cut shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research note on Monday, August 14th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a research note on Sunday, May 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rayonier presently has a consensus rating of “Hold” and an average price target of $29.80.
Shares of Rayonier (NYSE RYN) traded up 1.88% during midday trading on Friday, reaching $28.68. 460,047 shares of the company’s stock traded hands. The company has a 50 day moving average of $28.72 and a 200 day moving average of $28.53. The firm has a market cap of $3.69 billion, a PE ratio of 24.16 and a beta of 0.35. Rayonier has a 52-week low of $25.24 and a 52-week high of $29.86.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. The firm had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The company’s revenue was up 47.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. On average, equities analysts predict that Rayonier will post $0.43 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock valued at $320,744,000 after buying an additional 11,236,902 shares in the last quarter. Capital One National Association bought a new position in Rayonier during the first quarter valued at about $369,000. Sei Investments Co. boosted its position in Rayonier by 418.0% in the first quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 19,513 shares in the last quarter. Koch Industries Inc. bought a new position in Rayonier during the first quarter valued at about $226,000. Finally, Highbridge Capital Management LLC bought a new position in Rayonier during the first quarter valued at about $4,534,000. Institutional investors own 82.12% of the company’s stock.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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