Royal Bank of Canada Lowers Rayonier (NYSE:RYN) Price Target to $30.00

Rayonier (NYSE:RYN) had its price objective decreased by Royal Bank of Canada from $33.00 to $30.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Truist Financial reduced their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.33.

Rayonier Stock Down 0.5 %

Shares of NYSE RYN opened at $26.23 on Friday. The stock has a fifty day moving average price of $27.16 and a 200 day moving average price of $29.61. The company has a market cap of $3.91 billion, a P/E ratio of 11.11 and a beta of 1.03. Rayonier has a 12-month low of $24.88 and a 12-month high of $35.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Research analysts anticipate that Rayonier will post 0.58 EPS for the current fiscal year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.2725 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.16%. Rayonier’s dividend payout ratio is presently 48.31%.

Rayonier declared that its Board of Directors has authorized a stock buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Rayonier

Several hedge funds and other institutional investors have recently modified their holdings of RYN. Pacer Advisors Inc. lifted its position in shares of Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 442 shares during the last quarter. CWM LLC raised its stake in Rayonier by 20.6% during the third quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 487 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Rayonier by 41.8% during 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 during the last quarter. UMB Bank n.a. grew its position in shares of Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 525 shares in the last quarter. Finally, Handelsbanken Fonder AB increased 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 acquiring an additional 600 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.