Truist Financial Has Lowered Expectations for Rayonier (NYSE:RYN) Stock Price

Rayonier (NYSE:RYN) had its price target lowered by analysts at Truist Financial from $24.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 16.87% from the company’s current price.

A number of other research firms have also recently commented on RYN. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Citigroup lowered their price target on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $30.00 price target on shares of Rayonier in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.60.

Rayonier Price Performance

RYN traded down $0.15 on Monday, hitting $18.82. 1,236,498 shares of the stock were exchanged, compared to its average volume of 3,014,952. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 41.86 and a beta of 0.89. The business has a 50-day moving average of $20.28 and a two-hundred day moving average of $20.79. Rayonier has a 12 month low of $17.71 and a 12 month high of $25.97.

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

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value 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. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 6,219 shares of company stock valued at $124,088. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RYN. BlackRock Inc. bought a new position in Rayonier during the second quarter worth $617,451,000. Legal & General Group Plc acquired a new position in Rayonier in the second quarter valued at $213,574,000. 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 valued at $101,563,000 after acquiring an additional 1,463,118 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Rayonier during the first quarter worth approximately $85,771,000. Finally, Atlas FRM LLC bought a new stake in shares of Rayonier in the 2nd quarter valued at $83,843,200. Institutional investors own 89.12% of the company’s stock.

Rayonier Company Profile

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.