Truist Financial Cuts Rayonier (NYSE:RYN) Price Target to $30.00

Rayonier (NYSE:RYN) had its price target cut by research analysts at Truist Financial from $32.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 14.64% from the stock’s previous close.

Separately, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Rayonier Trading Down 0.9 %

Shares of Rayonier stock opened at $26.17 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $29.39 and a 200-day simple moving average of $30.04. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 24.69 and a beta of 1.04. Rayonier has a 12-month low of $25.46 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same period last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier announced that its Board of Directors has authorized a share buyback plan on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Rayonier

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its holdings in Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares during the period. Quest Partners LLC purchased a new stake in shares of Rayonier during the 2nd quarter worth $40,000. Blue Trust Inc. grew its stake in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

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.