Rayonier Inc. (RYN) – What Are Researchers Thinking About This Stock?

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.60.

A number of equities analysts recently commented on RYN shares. Truist Financial dropped their price objective on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Monday. Citigroup decreased their target price on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Finally, Seaport Research Partners restated a “buy” rating and set a $30.00 price target on shares of Rayonier in a research note on Thursday, October 8th.

Insider Buying and Selling

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares of the company’s stock, valued at $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 6,219 shares of company stock worth $124,088 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Rayonier

A number of institutional investors and hedge funds have recently made changes to their positions in RYN. Bank of America Corp DE raised its stake in shares of Rayonier by 141.8% in the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock valued at $33,420,000 after acquiring an additional 950,473 shares in the last quarter. Corient Private Wealth LP lifted its holdings in Rayonier by 731.4% in the 2nd quarter. Corient Private Wealth LP now owns 94,839 shares of the real estate investment trust’s stock worth $2,018,000 after purchasing an additional 83,432 shares during the last quarter. World Investment Advisors acquired a new stake in Rayonier in the 1st quarter worth approximately $6,980,000. Pictet Asset Management Holding SA boosted its position in Rayonier by 42.3% during the first quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after purchasing an additional 1,463,118 shares during the period. Finally, BlackRock Inc. bought a new stake in Rayonier during the second quarter worth approximately $617,451,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Down 0.1%

RYN opened at $18.88 on Wednesday. The company has a market capitalization of $5.62 billion, a PE ratio of 41.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier has a fifty-two week low of $17.71 and a fifty-two week high of $25.97. The business has a 50-day moving average of $20.16 and a 200-day moving average of $20.77.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. The firm’s revenue was up 272.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. Equities research analysts forecast that Rayonier will post 0.42 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a $0.26 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.5%. Rayonier’s dividend payout ratio is currently 231.11%.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.