Analysts Set Rayonier Inc. (NYSE:RYN) PT at $34.00

Shares of Rayonier Inc. (NYSE:RYN) have received a consensus recommendation of “Hold” from the two ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $34.00.

A number of brokerages have recently issued reports on RYN. StockNews.com cut Rayonier from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price target on shares of Rayonier in a research note on Friday, June 14th.

Rayonier Stock Performance

NYSE:RYN opened at $28.96 on Tuesday. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 25.86 and a beta of 1.05. The business has a 50 day moving average of $29.48 and a 200 day moving average of $31.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08. Rayonier has a 1-year low of $24.84 and a 1-year high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm had revenue of $168.10 million for the quarter, compared to the consensus estimate of $190.04 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Rayonier will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Friday, June 14th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Institutional Trading of Rayonier

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new position in Rayonier during the 1st quarter valued at approximately $26,000. GAMMA Investing LLC increased its stake in shares of Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the period. Covestor Ltd raised its holdings in shares of Rayonier by 488.6% during the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 1,290 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Rayonier in the first quarter worth $62,000. Finally, Signaturefd LLC boosted its holdings in Rayonier by 371.7% in the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 1,617 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

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