Rayonier Inc. (NYSE:RYN) Given Average Recommendation of “Hold” by Analysts

Shares of Rayonier Inc. (NYSE:RYN) have received an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.80.

Several equities research analysts recently commented on RYN shares. BMO Capital Markets dropped their price objective 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, May 19th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a report on Thursday, April 16th. Truist Financial boosted their price target on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Citigroup cut their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.30 on Monday. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.33. The stock’s 50 day moving average price is $20.92 and its 200-day moving average price is $21.53. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.40 billion, a PE ratio of 7.05 and a beta of 0.88.

Rayonier (NYSE:RYN) last issued 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 return on equity of 3.61% and a net margin of 68.61%.The company had revenue of $276.79 million for the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 233.9% on a year-over-year basis. On average, equities analysts anticipate that Rayonier will post 0.36 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Rayonier’s payout ratio is currently 34.44%.

Insider Buying and Selling

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Rayonier

A number of hedge funds have recently added to or reduced their stakes in RYN. Baker Ellis Asset Management LLC increased its holdings in shares of Rayonier by 3.8% in the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Bfsg LLC increased its holdings in Rayonier by 0.6% in the 4th quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock worth $1,693,000 after buying an additional 492 shares in the last quarter. Quarry LP increased its holdings in Rayonier by 19.8% in the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 498 shares in the last quarter. Greenwood Gearhart Inc. raised its position in Rayonier by 4.9% in the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 502 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its position in Rayonier by 49.7% in the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 575 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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.