Rayonier (NYSE:RYN – Get Free Report) had its price objective cut by equities research analysts at Truist Financial from $25.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 10.53% from the company’s current price.
Other analysts have also issued reports about the company. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets dropped their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Finally, Citigroup dropped their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.60.
Get Our Latest Research Report on Rayonier
Rayonier Stock Up 1.2%
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating 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 revenue was up 233.9% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, sell-side analysts forecast that Rayonier will post 0.36 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The shares were 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 in the company, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC boosted its position in shares of Rayonier by 3.8% during the 4th 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 increased its holdings in Rayonier by 0.6% in the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock worth $1,693,000 after purchasing an additional 492 shares in the last quarter. Quarry LP lifted its stake in Rayonier by 19.8% in the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 498 shares during the period. Greenwood Gearhart Inc. lifted its stake in Rayonier by 4.9% in the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 502 shares during the period. Finally, Hartford Financial Management Inc. boosted its holdings in shares of Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 575 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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