Rayonier Inc. (NYSE:RYN) Receives Average Recommendation of “Hold” from Brokerages

Rayonier Inc. (NYSE:RYN) has earned an average recommendation of “Hold” from the two ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.50.

A number of equities research analysts recently commented on RYN shares. Truist Financial decreased their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of Rayonier in a report on Friday, June 14th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Hedge Funds Weigh In On Rayonier

Several institutional investors have recently made changes to their positions in RYN. Norges Bank purchased a new position in shares of Rayonier in the 4th quarter valued at about $439,076,000. Confluence Investment Management LLC acquired a new stake in Rayonier in the first quarter valued at approximately $77,027,000. Cohen & Steers Inc. acquired a new stake in Rayonier in the fourth quarter valued at approximately $51,265,000. Impax Asset Management Group plc increased its position in shares of Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after buying an additional 1,004,357 shares in the last quarter. Finally, Teramo Advisors LLC acquired a new position in shares of Rayonier during the 2nd quarter worth approximately $9,309,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Trading Down 0.8 %

NYSE RYN opened at $30.25 on Wednesday. Rayonier has a 12-month low of $24.84 and a 12-month high of $35.29. The company has a fifty day simple moving average of $29.38 and a two-hundred day simple moving average of $30.83. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a market cap of $4.50 billion, a P/E ratio of 27.01 and a beta of 1.05.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million during the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The business’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. On average, analysts forecast that Rayonier will post 0.41 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s dividend payout ratio is currently 101.79%.

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.