Rayonier Inc. (NYSE:RYN) Receives $34.50 Average Target Price from Brokerages

Rayonier Inc. (NYSE:RYN) has received a consensus rating of “Hold” from the two analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $34.50.

Several research firms have recently commented on RYN. Royal Bank of Canada raised their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Truist Financial boosted their target price on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th.

Rayonier Stock Performance

Shares of RYN stock opened at $30.16 on Thursday. Rayonier has a one year low of $24.84 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26. The firm’s 50 day moving average price is $32.73 and its 200-day moving average price is $31.41. The firm has a market cap of $4.48 billion, a P/E ratio of 25.78 and a beta of 1.07.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The business had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. During the same period last year, the business posted $0.11 earnings per share. As a group, equities research analysts predict that Rayonier will post 0.48 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. Rayonier’s dividend payout ratio is currently 97.44%.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp purchased a new position in shares of Rayonier in the 3rd quarter valued at $26,000. Fifth Third Bancorp grew its holdings in shares of Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 880 shares during the last quarter. Signaturefd LLC increased its position in shares of Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Rayonier by 18.7% in the 1st quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

About Rayonier

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.