Rayonier Inc. (NYSE:RYN) Receives Average Rating of “Hold” from Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.00.

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Royal Bank Of Canada lifted their target price on shares of Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Truist Financial decreased their price target on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Finally, Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $26.00 to $28.00 in a research report on Friday, February 13th.

Insider Activity at Rayonier

In related news, Chairman Eric J. Cremers sold 169,200 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the transaction, the chairman directly owned 709,583 shares of the company’s stock, valued at approximately $15,213,459.52. The trade was a 19.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Rayonier

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after acquiring an additional 36,344 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Rayonier during the 1st quarter valued at approximately $501,000. United Services Automobile Association purchased a new stake in Rayonier during the 1st quarter worth approximately $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock worth $15,463,000 after purchasing an additional 130,985 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Rayonier by 30.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,390 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 3,382 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE RYN opened at $21.60 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.23. Rayonier has a 1-year low of $20.75 and a 1-year high of $28.31. The firm has a market capitalization of $6.53 billion, a P/E ratio of 7.08 and a beta of 0.98. The business’s 50-day simple moving average is $22.68 and its 200-day simple moving average is $23.55.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The firm had revenue of $117.50 million during the quarter, compared to the consensus estimate of $108.71 million. During the same quarter in the prior year, the company earned $0.24 EPS. The company’s revenue was down 24.4% on a year-over-year basis. Equities analysts predict that Rayonier will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. Rayonier’s dividend payout ratio (DPR) is 35.74%.

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.