Rayonier Inc. (NYSE:RYN) Given Consensus Recommendation of “Hold” by Brokerages

Rayonier Inc. (NYSE:RYN) has earned a consensus rating of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.80.

RYN has been the subject of a number of research reports. Truist Financial upped their price objective on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Citigroup reduced their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research note on Thursday, April 16th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, BMO Capital Markets dropped their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Rayonier

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Rayonier by 29.6% in the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock worth $4,436,000 after buying an additional 36,344 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Rayonier in the first quarter worth approximately $501,000. United Services Automobile Association purchased a new stake in shares of Rayonier in the first quarter worth approximately $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Rayonier by 30.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock worth $15,463,000 after buying an additional 130,985 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Rayonier by 16.9% in the second quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock worth $19,157,000 after buying an additional 124,574 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Down 2.7%

RYN stock opened at $20.75 on Thursday. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The business has a fifty day moving average price of $20.87 and a 200-day moving average price of $21.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The stock has a market capitalization of $6.24 billion, a P/E ratio of 6.87 and a beta of 0.88.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The company’s revenue was up 233.9% on a year-over-year basis. Equities analysts forecast that Rayonier will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

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.