Rayonier Inc. (NYSE:RYN) Receives $32.50 Average Target Price from Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus recommendation of “Hold” from the two research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.50.

A number of equities research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 price objective on shares of Rayonier in a research note on Friday, June 14th. Finally, StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Insider Buying and Selling

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction dated 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 sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Rayonier

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Rayonier by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock worth $691,490,000 after acquiring an additional 67,646 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Rayonier by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after buying an additional 196,571 shares during the period. Impax Asset Management Group plc raised 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 acquiring an additional 1,004,357 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Rayonier during the 1st quarter valued at approximately $77,027,000. Finally, Cohen & Steers Inc. purchased a new stake in shares of Rayonier in the fourth quarter worth $51,265,000. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

RYN stock opened at $32.25 on Friday. Rayonier has a 1 year low of $24.84 and a 1 year high of $35.29. The company has a market cap of $4.80 billion, a P/E ratio of 28.79 and a beta of 1.04. The firm has a 50-day moving average of $30.35 and a 200 day moving average of $30.45. 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 released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same period in the previous year, the company earned $0.05 earnings per share. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts forecast that Rayonier will post 0.4 EPS for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.53%. Rayonier’s payout ratio is currently 101.79%.

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.