Rayonier (NYSE:RYN) Announces Quarterly Earnings Results

Rayonier (NYSE:RYN) announced its earnings results on Wednesday. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08, FiscalAI reports. The firm had revenue of $117.50 million for the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a return on equity of 4.74% and a net margin of 70.95%.

Rayonier Stock Down 0.3%

Rayonier stock traded down $0.08 during mid-day trading on Wednesday, hitting $22.36. The company had a trading volume of 3,312,339 shares, compared to its average volume of 3,131,625. The business has a fifty day moving average of $22.50 and a 200 day moving average of $23.89. Rayonier has a 1 year low of $21.06 and a 1 year high of $28.31. The company has a quick ratio of 3.39, a current ratio of 3.44 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 4.44 and a beta of 0.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Truist Financial cut their price target on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $25.00 target price on shares of Rayonier in a research note on Thursday, December 18th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Institutional Trading of Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the business. Mariner LLC lifted its holdings in shares of Rayonier by 65.8% during the 3rd quarter. Mariner LLC now owns 49,267 shares of the real estate investment trust’s stock worth $1,308,000 after acquiring an additional 19,553 shares during the period. Dark Forest Capital Management LP purchased a new position in Rayonier in the third quarter valued at about $1,154,000. Landscape Capital Management L.L.C. lifted its stake in shares of Rayonier by 86.0% during the third quarter. Landscape Capital Management L.L.C. now owns 31,029 shares of the real estate investment trust’s stock worth $824,000 after purchasing an additional 14,345 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Rayonier by 15.2% in the third quarter. Integrated Wealth Concepts LLC now owns 30,068 shares of the real estate investment trust’s stock worth $798,000 after buying an additional 3,964 shares during the period. Finally, Sei Investments Co. boosted its holdings in Rayonier by 11.2% in the 2nd quarter. Sei Investments Co. now owns 35,067 shares of the real estate investment trust’s stock worth $778,000 after acquiring an additional 3,532 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

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.