Rayonier Inc. (NYSE:RYN) Receives $26.00 Average Target Price from Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.00.

Several analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Truist Financial dropped their price target on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a report on Friday.

Insider Buying and Selling at Rayonier

In other news, Chairman Eric J. Cremers sold 169,200 shares of Rayonier stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the transaction, the chairman directly owned 709,583 shares of the company’s stock, valued at $15,213,459.52. The trade was a 19.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rayonier

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Painted Porch Advisors LLC lifted its holdings in Rayonier by 4.9% during the fourth quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 671 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Rayonier by 167.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,721 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 9,840 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Rayonier in the fourth quarter worth $285,000. Sankala Group LLC bought a new stake in shares of Rayonier during the 4th quarter valued at $929,000. Finally, Invesco Ltd. raised its position in shares of Rayonier by 5.0% during the 4th quarter. Invesco Ltd. now owns 811,944 shares of the real estate investment trust’s stock valued at $17,579,000 after purchasing an additional 38,763 shares during the period. Institutional investors own 89.12% of the company’s stock.

Rayonier Trading Up 1.4%

Shares of NYSE:RYN opened at $20.60 on Friday. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 6.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.23 and a current ratio of 3.26. The stock’s 50-day simple moving average is $21.90 and its two-hundred day simple moving average is $22.84. Rayonier has a 52-week low of $19.49 and a 52-week high of $28.14.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The firm had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. Analysts expect that Rayonier will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. Rayonier’s dividend payout ratio (DPR) is 34.10%.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.