Rayonier Inc. (NYSE:RYN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have received a consensus rating of “Hold” from the two brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.50.

RYN has been the topic of several research reports. Truist Financial lowered their price target on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 price target on shares of Rayonier in a report on Friday, June 14th.

Rayonier Stock Up 0.3 %

Shares of RYN stock opened at $31.87 on Friday. Rayonier has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The firm has a market cap of $4.74 billion, a PE ratio of 28.46 and a beta of 1.04. The stock has a 50 day moving average of $30.23 and a 200-day moving average of $30.55.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same period last year, the company earned $0.05 earnings per share. Rayonier’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities analysts predict that Rayonier will post 0.4 EPS for the current year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.58%. Rayonier’s payout ratio is presently 101.79%.

Insider Activity at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Rayonier by 138.7% in the 1st quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock valued at $5,364,000 after acquiring an additional 93,768 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Rayonier in the first quarter valued at approximately $961,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Rayonier by 1.2% in 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. Susquehanna Fundamental Investments LLC bought a new position in Rayonier in the 1st quarter worth approximately $729,000. Finally, SG Americas Securities LLC lifted its holdings in Rayonier by 308.5% during the 2nd quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock worth $923,000 after buying an additional 23,953 shares in the last quarter. 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.