Wall Street brokerages expect Rayonier Inc. (NYSE:RYN) to post earnings of $0.09 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rayonier’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.05. Rayonier reported earnings of $0.11 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, May 3rd.
On average, analysts expect that Rayonier will report full year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.35 to $0.37. For the next year, analysts expect that the business will report earnings of $0.47 per share, with EPS estimates ranging from $0.45 to $0.50. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Rayonier.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 8th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 26.89% and a return on equity of 4.85%. The business had revenue of $142.80 million for the quarter, compared to the consensus estimate of $127.77 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.
RYN has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. Royal Bank of Canada restated a “hold” rating and set a $27.00 target price on shares of Rayonier in a report on Friday, January 6th. Raymond James Financial, Inc. upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating in a report on Monday, January 9th. DA Davidson downgraded shares of Rayonier from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, February 10th. They noted that the move was a valuation call. Finally, Vertical Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rayonier presently has an average rating of “Buy” and a consensus target price of $29.80.
Rayonier (NYSE:RYN) traded down 0.10% during mid-day trading on Tuesday, hitting $28.84. 573,283 shares of the company were exchanged. The company has a 50 day moving average of $28.49 and a 200 day moving average of $27.54. Rayonier has a 12-month low of $24.37 and a 12-month high of $29.86. The stock has a market cap of $3.54 billion, a P/E ratio of 16.68 and a beta of 0.37.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.47%. Rayonier’s dividend payout ratio (DPR) is presently 58.14%.
In related news, SVP Douglas M. Long sold 2,305 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $29.51, for a total value of $68,020.55. Following the completion of the transaction, the senior vice president now directly owns 8,556 shares of the company’s stock, valued at $252,487.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its position in Rayonier by 4.4% in the third quarter. BlackRock Fund Advisors now owns 5,663,011 shares of the real estate investment trust’s stock valued at $150,296,000 after buying an additional 237,052 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Rayonier by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,659,459 shares of the real estate investment trust’s stock valued at $97,122,000 after buying an additional 29,813 shares in the last quarter. Confluence Investment Management LLC boosted its position in Rayonier by 10.6% in the first quarter. Confluence Investment Management LLC now owns 2,655,190 shares of the real estate investment trust’s stock valued at $75,248,000 after buying an additional 255,239 shares in the last quarter. Northern Trust Corp boosted its position in Rayonier by 14.7% in the third quarter. Northern Trust Corp now owns 1,331,269 shares of the real estate investment trust’s stock valued at $35,331,000 after buying an additional 170,807 shares in the last quarter. Finally, Norges Bank purchased a new position in Rayonier during the fourth quarter valued at $31,453,000. 84.66% of the stock is owned by institutional investors and hedge funds.
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Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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