Rayonier Inc. (NYSE:RYN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.60.

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets cut their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research report on Thursday, April 16th. Truist Financial decreased their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Finally, Citigroup dropped their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th.

Institutional Trading of Rayonier

A number of institutional investors have recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier during the fourth quarter worth $34,000. Northwestern Mutual Wealth Management Co. grew its position in Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 627 shares in the last quarter. Bayban acquired a new stake in Rayonier in the 1st quarter valued at $36,000. Hartford Financial Management Inc. increased its stake 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 valued at $37,000 after buying an additional 575 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 969 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 3.6%

Rayonier stock opened at $21.39 on Friday. The company has a 50 day moving average of $21.28 and a 200-day moving average of $21.50. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.33. The stock has a market capitalization of $6.43 billion, a PE ratio of 7.08 and a beta of 0.88.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm’s quarterly revenue was up 233.9% on a year-over-year basis. During the same period last year, the business posted ($0.02) earnings per share. On average, equities research analysts anticipate that Rayonier will post 0.4 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 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.