Rayonier Inc. (NYSE:RYN) Receives $24.75 Average PT from Analysts

Rayonier Inc. (NYSE:RYN) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.80.

A number of equities analysts have commented on RYN shares. BMO Capital Markets reduced their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday. Truist Financial lifted their price target on shares of Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Citigroup dropped their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $26.00 to $28.00 in a research report on Friday, February 13th.

Insider Buying and Selling

In related news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Eric J. Cremers sold 169,200 shares of Rayonier stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the completion of the transaction, the chairman owned 709,583 shares of the company’s stock, valued at $15,213,459.52. This trade represents a 19.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.85% of the company’s stock.

Institutional Trading of Rayonier

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Rayonier by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust’s stock valued at $100,383,000 after purchasing an additional 94,033 shares during the last quarter. UBS Group AG raised its position in Rayonier by 882.5% in the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after purchasing an additional 445,538 shares during the last quarter. Vanguard Group Inc. raised its position in Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock valued at $458,434,000 after purchasing an additional 444,503 shares during the last quarter. Oak Thistle LLC purchased a new stake in Rayonier in the 4th quarter valued at $1,112,000. Finally, Convergence Investment Partners LLC raised its position in Rayonier by 494.1% in the 4th quarter. Convergence Investment Partners LLC now owns 100,900 shares of the real estate investment trust’s stock valued at $2,184,000 after purchasing an additional 83,915 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE:RYN opened at $20.39 on Friday. The company’s 50-day moving average price is $20.67 and its 200-day moving average price is $21.72. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.13 billion, a P/E ratio of 6.75 and a beta of 0.90. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.33.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. During the same period last year, the firm posted ($0.02) earnings per share. The company’s revenue for the quarter was up 233.9% on a year-over-year basis. On average, sell-side analysts forecast that Rayonier will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. Rayonier’s payout ratio is 34.44%.

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.