Shares of Rayonier Inc. (NYSE:RYN) have earned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $30.50.
A number of analysts have recently commented on RYN shares. Zacks Investment Research raised Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Monday, November 6th. Royal Bank of Canada reissued a “hold” rating and set a $30.00 target price on shares of Rayonier in a research note on Friday, January 12th. Citigroup initiated coverage on Rayonier in a research note on Thursday. They set a “neutral” rating for the company. Finally, BMO Capital Markets reissued a “hold” rating and set a $31.00 target price on shares of Rayonier in a research note on Thursday, November 2nd.
Shares of Rayonier (RYN) opened at $33.99 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.68 and a quick ratio of 1.45. The company has a market capitalization of $4,410.81, a PE ratio of 29.30, a PEG ratio of 10.47 and a beta of 0.42. Rayonier has a 52 week low of $26.84 and a 52 week high of $34.82.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. Rayonier’s payout ratio is 86.21%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RYN. Acadian Asset Management LLC bought a new stake in Rayonier during the 4th quarter worth approximately $168,000. Advisor Group Inc. increased its stake in Rayonier by 73.0% during the 4th quarter. Advisor Group Inc. now owns 6,618 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 2,793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rayonier by 46.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 2,229 shares in the last quarter. Gamble Jones Investment Counsel bought a new stake in Rayonier during the 4th quarter worth approximately $237,000. Finally, Timber Hill LLC bought a new stake in Rayonier during the 3rd quarter worth approximately $246,000. 82.85% of the stock is owned by institutional investors and hedge funds.
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Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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