Rayonier (NYSE:RYN) Upgraded at StockNews.com

Rayonier (NYSE:RYN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Truist Financial upped their target price on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Rayonier Stock Up 0.8 %

RYN opened at $29.97 on Friday. The company has a fifty day moving average of $31.46 and a two-hundred day moving average of $30.31. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 28.27 and a beta of 1.05. Rayonier has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.78 and a current ratio of 1.99.

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

Insider Buying and Selling

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by insiders.

Institutional Trading of Rayonier

Several large investors have recently made changes to their positions in RYN. Impax Asset Management Group plc lifted its holdings in Rayonier by 17.3% in the 2nd 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 purchasing an additional 1,004,357 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Rayonier by 26.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock worth $107,890,000 after buying an additional 695,810 shares in the last quarter. Teramo Advisors LLC acquired a new position in Rayonier during the second quarter worth about $9,309,000. Crossmark Global Holdings Inc. grew its stake in Rayonier by 2,950.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock valued at $9,532,000 after acquiring an additional 286,510 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Rayonier by 56.7% in the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after acquiring an additional 272,349 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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.