Brokerages Set Rayonier Inc. (NYSE:RYN) PT at $26.50

Rayonier Inc. (NYSE:RYN) has received a consensus recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.50.

Several brokerages recently issued reports on RYN. Truist Financial reduced their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $25.00 price target on shares of Rayonier in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Finally, Citigroup lowered their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th.

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently modified their holdings of the company. Hartford Financial Management Inc. acquired a new position in Rayonier during the 3rd quarter worth about $31,000. Allworth Financial LP increased its stake in Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 829 shares during the period. GAMMA Investing LLC lifted its position in shares of Rayonier by 138.9% during the third quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 986 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Rayonier during the second quarter worth about $39,000. Finally, Blue Trust Inc. boosted its stake in shares of Rayonier by 55.5% in the third quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 683 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Price Performance

RYN stock opened at $22.48 on Friday. Rayonier has a 52-week low of $21.06 and a 52-week 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 $3.63 billion, a price-to-earnings ratio of 4.46 and a beta of 0.98. The business has a fifty day moving average of $22.46 and a two-hundred day moving average of $23.91.

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.