Rayonier (NYSE:RYN) Price Target Increased to $32.00 by Analysts at Truist Financial

Rayonier (NYSE:RYN) had its target price boosted by Truist Financial from $31.00 to $32.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Separately, StockNews.com raised shares of Rayonier from a sell rating to a hold rating in a report on Saturday, August 17th.

Rayonier Trading Up 0.6 %

RYN opened at $31.92 on Tuesday. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 28.50 and a beta of 1.04. The company’s 50 day simple moving average is $30.89 and its two-hundred day simple moving average is $30.28. Rayonier has a 1-year low of $24.84 and a 1-year high of $35.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The company had revenue of $173.60 million for 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 quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. Analysts expect that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.57%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Rayonier by 20.6% in the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 487 shares during the last quarter. Handelsbanken Fonder AB raised its position in Rayonier by 1.5% in the third quarter. Handelsbanken Fonder AB now owns 40,939 shares of the real estate investment trust’s stock valued at $1,317,000 after purchasing an additional 600 shares during the period. Algert Global LLC lifted its stake in Rayonier by 16.9% during the second quarter. Algert Global LLC now owns 98,411 shares of the real estate investment trust’s stock worth $2,863,000 after purchasing an additional 14,221 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Rayonier by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 449,296 shares of the real estate investment trust’s stock worth $13,070,000 after buying an additional 11,604 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Rayonier by 56.7% in the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after buying an additional 272,349 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.