Rayonier (NYSE:RYN – Get Free Report) had its price target hoisted by research analysts at Truist Financial from $24.00 to $25.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 21.86% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research report on Thursday, April 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Rayonier presently has an average rating of “Hold” and an average target price of $25.25.
Read Our Latest Analysis on Rayonier
Rayonier Stock Performance
Rayonier (NYSE:RYN – Get Free Report) 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 the consensus estimate of $0.06 by $0.01. The firm had revenue of $276.80 million for 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 company’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. On average, analysts forecast that Rayonier will post 0.42 earnings per share for the current fiscal year.
Insider Activity
In related news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the sale, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Also, Chairman Eric J. Cremers sold 169,200 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the completion of the sale, the chairman directly owned 709,583 shares in the company, valued at $15,213,459.52. This trade represents a 19.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.85% of the company’s stock.
Institutional Trading of Rayonier
A number of hedge funds have recently made changes to their positions in the company. Baker Ellis Asset Management LLC boosted its stake in shares of Rayonier by 3.8% during the fourth quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 469 shares in the last quarter. Bfsg LLC boosted its stake in shares of Rayonier by 0.6% during the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after purchasing an additional 492 shares in the last quarter. Quarry LP boosted its stake in shares of Rayonier by 19.8% during the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 498 shares in the last quarter. Greenwood Gearhart Inc. boosted its stake in shares of Rayonier by 4.9% during the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 502 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its stake in shares of Rayonier by 1.8% during the third quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust’s stock valued at $752,000 after purchasing an additional 510 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
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.
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