Rayonier (NYSE:RYN) Stock Gets Price Target Trim from Truist Financial

Rayonier (NYSE:RYN) had its price target cut by Truist Financial from $24.00 to $22.00 in a research note released on Monday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other research firms have also commented on RYN. Seaport Research Partners reissued a “buy” rating and issued a $30.00 price target on shares of Rayonier in a research report on Thursday, October 8th. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Finally, Citigroup decreased their price objective on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus price target of $23.60.

Rayonier Stock Performance

Shares of NYSE RYN opened at $18.62 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 41.39 and a beta of 0.89. The business’s 50-day simple moving average is $20.09 and its 200-day simple moving average is $20.76. Rayonier has a 52 week low of $17.71 and a 52 week high of $25.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. The business had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. During the same period last year, the business earned $0.06 EPS. The firm’s revenue was up 272.3% compared to the same quarter last year. As a group, equities research analysts expect that Rayonier will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares in the company, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 6,219 shares of company stock valued at $124,088 in the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Krilogy Financial LLC lifted its holdings in shares of Rayonier by 0.5% during the third quarter. Krilogy Financial LLC now owns 153,576 shares of the real estate investment trust’s stock worth $2,901,000 after buying an additional 774 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Rayonier in the third quarter worth $251,000. Journey Retirement Planning & Investment Management LLC acquired a new stake in shares of Rayonier in the third quarter worth $639,000. GAMMA Investing LLC increased its position in Rayonier by 91.6% during the third quarter. GAMMA Investing LLC now owns 4,491 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 2,147 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Rayonier by 853.1% during the third quarter. Farther Finance Advisors LLC now owns 9,846 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 8,813 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.