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

Rayonier Inc. (NYSE:RYN) has received an average recommendation of “Hold” from the two analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.50.

RYN has been the subject of several recent research reports. StockNews.com cut Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada boosted their price target on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd.

Rayonier Trading Up 0.5 %

NYSE RYN opened at $29.48 on Monday. Rayonier has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.39 billion, a P/E ratio of 26.32 and a beta of 1.09. The business has a fifty day simple moving average of $31.05 and a 200 day simple moving average of $31.85.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. Rayonier’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. On average, analysts predict that Rayonier will post 0.47 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.285 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.14 annualized dividend and a dividend yield of 3.87%. Rayonier’s dividend payout ratio is 101.79%.

Hedge Funds Weigh In On Rayonier

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Trading LLC bought a new stake in shares of Rayonier during the 1st quarter valued at about $1,203,000. Tidal Investments LLC increased its stake in shares of Rayonier by 18.7% in the 1st quarter. Tidal Investments LLC now owns 65,094 shares of the real estate investment trust’s stock worth $2,164,000 after purchasing an additional 10,251 shares in the last quarter. Bayesian Capital Management LP bought a new position in Rayonier in the 1st quarter worth $262,000. Price T Rowe Associates Inc. MD lifted its position in Rayonier by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after purchasing an additional 196,571 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Rayonier during the first quarter valued at about $320,000. Institutional investors 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.