Rayonier Inc. (NYSE:RYN) Given Average Rating of “Hold” by Brokerages

Rayonier Inc. (NYSE:RYN) has been given a consensus recommendation of “Hold” by the two research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $34.50.

A number of equities research analysts have commented on RYN shares. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Royal Bank of Canada raised their target price on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Truist Financial upped their price target on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, January 4th.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp bought a new position in shares of Rayonier during the 3rd quarter valued at approximately $26,000. Fifth Third Bancorp boosted its position in shares of Rayonier by 84.7% in the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 880 shares during the period. Signaturefd LLC increased its stake in shares of Rayonier by 371.7% in the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Rayonier by 525.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,143 shares during the period. Finally, Financial Management Professionals Inc. lifted its holdings in shares of Rayonier by 18.7% in the first quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Trading Up 0.5 %

Shares of NYSE:RYN opened at $29.82 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04. Rayonier has a 1 year low of $24.84 and a 1 year high of $35.29. The company has a market cap of $4.43 billion, a P/E ratio of 25.49 and a beta of 1.07. The stock’s fifty day moving average price is $32.58 and its 200-day moving average price is $31.48.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The firm had revenue of $467.40 million for the quarter, compared to the consensus estimate of $235.94 million. During the same quarter last year, the firm posted $0.11 EPS. Sell-side analysts expect that Rayonier will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.82%. Rayonier’s dividend payout ratio (DPR) is presently 97.44%.

Rayonier Company Profile

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.