Rayonier (NYSE:RYN) Issues Earnings Results, Beats Expectations By $0.08 EPS

Rayonier (NYSE:RYN) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.20 earnings per share (EPS) 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 net margin of 70.95% and a return on equity of 4.74%.

Rayonier Stock Performance

RYN traded down $0.08 on Wednesday, hitting $22.36. 3,310,302 shares of the company’s stock were exchanged, compared to its average volume of 3,104,469. The company has a current ratio of 3.44, a quick ratio of 3.39 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $22.50 and a two-hundred day moving average of $23.89. Rayonier has a twelve month low of $21.06 and a twelve month high of $28.31. The firm has a market cap of $3.61 billion, a PE ratio of 4.44 and a beta of 0.98.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of research analyst reports. Citigroup dropped their price target 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 decreased their price objective 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. Royal Bank Of Canada reissued a “sector perform” rating and issued a $25.00 target price on shares of Rayonier in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.50.

Institutional Trading of Rayonier

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its stake in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 627 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Rayonier by 77.9% during the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 1,073 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Rayonier in the 3rd quarter worth about $92,000. NewEdge Advisors LLC lifted its position in Rayonier by 22.5% in the 3rd quarter. NewEdge Advisors LLC now owns 4,156 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 764 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Rayonier by 312.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,153 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 5,419 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.