Analysts Offer Predictions for Rayonier FY2024 Earnings

Rayonier Inc. (NYSE:RYN) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for shares of Rayonier in a research note issued on Thursday, October 24th. Seaport Res Ptn analyst M. Weintraub now forecasts that the real estate investment trust will earn $0.37 per share for the year, down from their prior estimate of $0.38. The consensus estimate for Rayonier’s current full-year earnings is $0.38 per share.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share.

Several other research firms also recently commented on RYN. Truist Financial upped their price target on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Rayonier Stock Down 1.2 %

Shares of RYN opened at $31.47 on Monday. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The firm has a market cap of $4.69 billion, a P/E ratio of 28.10 and a beta of 1.04. The firm’s 50-day simple moving average is $31.29 and its 200 day simple moving average is $30.27. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

Insider Buying and Selling

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rayonier

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