Rayonier (NYSE:RYN) Given New $32.00 Price Target at Truist Financial

Rayonier (NYSE:RYN) had its target price upped by equities research analysts at Truist Financial from $31.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential downside of 1.05% from the stock’s current price.

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

Rayonier Trading Up 1.3 %

RYN stock opened at $32.34 on Tuesday. The company has a market capitalization of $4.81 billion, a PE ratio of 28.88 and a beta of 1.04. Rayonier has a 12 month low of $24.84 and a 12 month high of $35.29. The firm’s 50-day moving average is $30.92 and its 200 day moving average is $30.29. 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 posted its quarterly earnings results 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 analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, research analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Insider Buying and Selling at Rayonier

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 transaction of $306,036.27. Following the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

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