Rayonier Inc. (NYSE:RYN) Stock Now Rated “Hold” by Wall Street Brokerages

Rayonier Inc. (NYSE:RYN) has received an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.20.

A number of research firms recently issued reports on RYN. Royal Bank Of Canada raised their target price on shares of Rayonier from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Friday. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Citigroup decreased 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. Seaport Research Partners reiterated a “buy” rating and set a $30.00 price target on shares of Rayonier in a report on Thursday, October 8th. Finally, Truist Financial reduced their price objective on Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, October 12th.

Insider Transactions at Rayonier

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RYN. BlackRock Inc. bought a new stake in shares of Rayonier in the second quarter valued at about $617,451,000. Legal & General Group Plc bought a new position in Rayonier during the second quarter valued at about $213,574,000. Atlas FRM LLC bought a new position in Rayonier during the second quarter valued at about $83,843,200. Bank of New York Mellon Corp raised its holdings in Rayonier by 111.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,573,559 shares of the real estate investment trust’s stock valued at $53,067,000 after acquiring an additional 1,356,361 shares in the last quarter. Finally, Kopernik Global Investors LLC acquired a new position in Rayonier in the 1st quarter valued at approximately $45,086,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Down 1.6%

Shares of Rayonier stock opened at $21.56 on Friday. Rayonier has a 12-month low of $17.71 and a 12-month high of $24.82. The company has a quick ratio of 2.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $19.47 and a two-hundred day moving average price of $20.90. The stock has a market capitalization of $6.42 billion, a P/E ratio of 37.18 and a beta of 0.88.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $565.57 million for the quarter, compared to analyst estimates of $406.98 million. Rayonier had a net margin of 11.49% and a return on equity of 2.69%. The company’s quarterly revenue was up 218.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Equities analysts expect that Rayonier will post 0.42 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. Rayonier’s dividend payout ratio is 179.31%.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.