Rayonier (NYSE:RYN) Price Target Cut to $30.00 by Analysts at Truist Financial

Rayonier (NYSE:RYN) had its target price cut by research analysts at Truist Financial from $32.00 to $30.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price points to a potential upside of 13.90% from the stock’s previous close.

Separately, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th.

Rayonier Price Performance

Shares of Rayonier stock opened at $26.34 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $29.58 and a 200-day simple moving average of $30.09. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 24.85 and a beta of 1.02. Rayonier has a 1-year low of $25.46 and a 1-year high of $35.29.

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

Rayonier declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Rayonier

Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Rayonier during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC increased its holdings in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 672 shares during the period. Blue Trust Inc. increased its holdings in Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,042 shares during the period. Quest Partners LLC acquired a new position in Rayonier in the second quarter worth about $40,000. Finally, GAMMA Investing LLC raised its holdings in shares of Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds 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.