Rayonier Inc. (NYSE:RYN) has been given an average recommendation of “Hold” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $31.55.
A number of equities analysts recently commented on the company. Bank of America dropped their price objective on Rayonier from $32.00 to $31.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. TheStreet downgraded Rayonier from a “b-” rating to a “c” rating in a report on Wednesday, August 7th. ValuEngine upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Friday, August 16th. DA Davidson upgraded Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Friday, November 1st. Finally, BMO Capital Markets lowered their price target on Rayonier from $34.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th.
NYSE:RYN traded up $0.10 during mid-day trading on Wednesday, reaching $29.76. The stock had a trading volume of 790,284 shares, compared to its average volume of 545,547. The business’s 50 day moving average is $28.76 and its 200 day moving average is $29.05. Rayonier has a fifty-two week low of $25.83 and a fifty-two week high of $32.92. The stock has a market cap of $3.76 billion, a P/E ratio of 37.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.17.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.08 annualized dividend and a yield of 3.63%. Rayonier’s dividend payout ratio (DPR) is presently 136.71%.
In related news, Director Andrew G. Wiltshire purchased 2,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $26.34 per share, for a total transaction of $52,680.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Rayonier by 1.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,349,152 shares of the real estate investment trust’s stock worth $525,679,000 after acquiring an additional 166,853 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rayonier by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 9,008,257 shares of the real estate investment trust’s stock worth $269,977,000 after acquiring an additional 81,675 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Rayonier by 26.0% in the second quarter. Impax Asset Management Group plc now owns 3,350,211 shares of the real estate investment trust’s stock worth $101,511,000 after acquiring an additional 691,355 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Rayonier by 1.6% in the third quarter. Confluence Investment Management LLC now owns 3,051,462 shares of the real estate investment trust’s stock worth $86,051,000 after acquiring an additional 46,695 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Rayonier by 4.2% during the second quarter. Pictet Asset Management Ltd. now owns 3,041,932 shares of the real estate investment trust’s stock valued at $92,171,000 after acquiring an additional 121,285 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.
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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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