Rayonier Inc. (RYN) Given Consensus Rating of “Hold” by Analysts
Shares of Rayonier Inc. (NYSE:RYN) have been assigned an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.75.
RYN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, August 21st. Vertical Research raised shares of Rayonier to a “buy” rating in a report on Sunday, May 28th. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price objective on shares of Rayonier in a report on Monday, July 31st. BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BMO Capital Markets cut shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a report on Monday, August 14th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Rayonier by 1.8% during the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 67 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Rayonier by 0.3% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 21,189 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 73 shares during the last quarter. Utah Retirement Systems raised its holdings in shares of Rayonier by 0.4% during the first quarter. Utah Retirement Systems now owns 22,327 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 100 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Rayonier by 0.5% during the second quarter. Public Employees Retirement Association of Colorado now owns 29,895 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 154 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rayonier by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 351 shares during the last quarter. 82.40% of the stock is owned by hedge funds and other institutional investors.
Rayonier (NYSE RYN) traded up 0.49% during midday trading on Wednesday, reaching $28.69. 233,528 shares of the company’s stock traded hands. Rayonier has a 52-week low of $25.24 and a 52-week high of $29.86. The firm’s 50-day moving average is $28.74 and its 200 day moving average is $28.53. The firm has a market cap of $3.69 billion, a PE ratio of 24.17 and a beta of 0.35.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Equities research analysts expect that Rayonier will post $0.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. Rayonier’s payout ratio is 84.75%.
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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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