Rayonier Inc. (NYSE:RYN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Rayonier Inc. (NYSE:RYN) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $28.00.

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Rayonier in a report on Tuesday, October 14th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th.

Institutional Investors Weigh In On Rayonier

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in shares of Rayonier by 213.7% during the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 829 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Rayonier during the 1st quarter valued at about $30,000. Hartford Financial Management Inc. acquired a new position in shares of Rayonier during the 3rd quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of Rayonier during the 1st quarter valued at about $32,000. Finally, Caldwell Trust Co acquired a new position in shares of Rayonier during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

NYSE:RYN opened at $23.26 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 4.70 and a beta of 0.99. The company has a 50 day moving average price of $25.85 and a 200-day moving average price of $24.58. Rayonier has a 1-year low of $21.84 and a 1-year high of $32.88.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Equities research analysts forecast that Rayonier will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s payout ratio is presently 22.02%.

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.