Rayonier Inc. (NYSE:RYN) Given Average Recommendation of “Hold” by Analysts

Rayonier Inc. (NYSE:RYN) has been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.75.

RYN has been the subject of a number of research analyst reports. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Truist Financial raised their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $26.00 to $28.00 in a research note on Friday, February 13th. Finally, Citigroup reduced their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday.

Insiders Place Their Bets

In other Rayonier 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 completion of the transaction, the chairman owned 709,583 shares in the company, valued at approximately $15,213,459.52. This trade represents a 19.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the transaction, the chief financial officer owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Rayonier by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust’s stock valued at $100,383,000 after buying an additional 94,033 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Rayonier during the 4th quarter valued at about $1,112,000. Vanguard Group Inc. raised its stake in shares of Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock valued at $458,434,000 after buying an additional 444,503 shares during the last quarter. UBS Group AG raised its stake in shares of Rayonier by 882.5% during the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after buying an additional 445,538 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its stake in shares of Rayonier by 494.1% during the 4th quarter. Convergence Investment Partners LLC now owns 100,900 shares of the real estate investment trust’s stock valued at $2,184,000 after buying an additional 83,915 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 2.0%

Rayonier stock opened at $19.82 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 3.23. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 6.56 and a beta of 0.90. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The business has a fifty day moving average price of $20.77 and a 200-day moving average price of $21.80.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The business’s quarterly revenue was up 233.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. Equities research analysts forecast that Rayonier will post 0.36 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 5.2%. Rayonier’s dividend payout ratio (DPR) is 34.44%.

Rayonier Company Profile

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.