Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $34.50.
A number of research analysts have weighed in on the stock. Raymond James set a $40.00 target price on shares of Rayonier and gave the company a “buy” rating in a research note on Tuesday, May 8th. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Citigroup assumed coverage on shares of Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 target price on the stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Synovus Financial Corp bought a new stake in shares of Rayonier in the first quarter valued at approximately $124,000. Quantbot Technologies LP bought a new stake in shares of Rayonier in the first quarter valued at approximately $138,000. TLP Group LLC raised its position in shares of Rayonier by 1,819.3% in the first quarter. TLP Group LLC now owns 5,681 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 5,385 shares during the period. Weil Company Inc. bought a new stake in shares of Rayonier in the first quarter valued at approximately $202,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Rayonier in the first quarter valued at approximately $217,000. 86.38% of the stock is currently owned by institutional investors.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.15. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $180.82 million. Rayonier had a net margin of 19.08% and a return on equity of 6.92%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. sell-side analysts anticipate that Rayonier will post 0.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.83%. This is a positive change from Rayonier’s previous quarterly dividend of $0.25. Rayonier’s payout ratio is 153.85%.
Rayonier Company Profile
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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