Rayonier (NYSE:RYN) Stock Price Target Raised at Royal Bank Of Canada

Rayonier (NYSE:RYN – Get Free Report) had its price objective boosted by equities researchers at Royal Bank Of Canada from $20.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price objective points to a potential upside of 2.35% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Seaport Research Partners restated a “buy” rating and issued a $30.00 price objective on shares of Rayonier in a research note on Thursday, October 8th. Finally, Truist Financial decreased their target price on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus price target of $23.20.

View Our Latest Research Report on Rayonier

Rayonier Stock Performance

NYSE:RYN traded down $0.41 during trading hours on Friday, reaching $21.50. The company had a trading volume of 1,729,893 shares, compared to its average volume of 3,065,702. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. Rayonier has a 52 week low of $17.71 and a 52 week high of $24.82. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 36.91 and a beta of 0.88. The firm’s 50 day moving average price is $19.45 and its 200-day moving average price is $20.91.

Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $565.60 million for the quarter, compared to analysts’ expectations of $406.98 million. Rayonier had a return on equity of 2.85% and a net margin of 11.49%. The company’s revenue was up 218.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, analysts forecast that Rayonier will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president owned 131,661 shares of the company’s stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,219 shares of company stock worth $124,088 over the last quarter. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RYN. Krilogy Financial LLC lifted its position in shares of Rayonier by 0.5% in the third quarter. Krilogy Financial LLC now owns 153,576 shares of the real estate investment trust’s stock valued at $2,901,000 after acquiring an additional 774 shares in the last quarter. Natural Investments LLC boosted its stake in shares of Rayonier by 5.4% in the second quarter. Natural Investments LLC now owns 16,382 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 833 shares during the period. Choreo LLC grew its position in shares of Rayonier by 5.0% during the third quarter. Choreo LLC now owns 18,870 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 899 shares in the last quarter. Whittier Trust Co. grew its position in shares of Rayonier by 74.0% during the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 969 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Rayonier by 50.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 89.12% of the company’s stock.

About Rayonier

(Get Free Report)

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.

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Analyst Recommendations for Rayonier (NYSE:RYN)

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