Rayonier Inc. (NYSE:RYN) Receives $33.00 Consensus PT from Analysts

Rayonier Inc. (NYSE:RYN) has been assigned a consensus rating of “Hold” from the two ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is $33.00.

RYN has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report 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 Trading Up 0.8 %

Shares of NYSE:RYN opened at $32.36 on Thursday. Rayonier has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The company has a market capitalization of $4.82 billion, a P/E ratio of 28.89 and a beta of 1.04. The company has a 50-day simple moving average of $31.04 and a 200 day simple moving average of $30.29.

Rayonier (NYSE:RYN) last posted 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 business had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same quarter last year, the company posted $0.05 EPS. The firm’s revenue was down 16.9% on a year-over-year basis. Sell-side analysts forecast that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Monday, September 16th. Rayonier’s dividend payout ratio is 101.79%.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.83% of the company’s stock.

Institutional Trading of Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. boosted its holdings in Rayonier by 18.7% in the first quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,143 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Rayonier by 2.4% during the first quarter. State of Michigan Retirement System now owns 33,493 shares of the real estate investment trust’s stock worth $1,113,000 after buying an additional 800 shares during the period. State of Alaska Department of Revenue increased its position in shares of Rayonier by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after buying an additional 439 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Rayonier by 2.6% during the first quarter. Principal Financial Group Inc. now owns 514,509 shares of the real estate investment trust’s stock worth $17,102,000 after buying an additional 12,971 shares during 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.