Royal Bank Of Canada reissued their hold rating on shares of Rayonier Inc. (NYSE:RYN) in a research note issued to investors on Sunday. They currently have a $29.00 price target on the real estate investment trust’s stock.
A number of other equities analysts have also weighed in on RYN. BMO Capital Markets reiterated a hold rating and issued a $31.00 price target on shares of Rayonier in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Rayonier from a sell rating to a hold rating in a report on Monday, August 7th. Finally, BidaskClub upgraded shares of Rayonier from a sell rating to a hold rating in a report on Saturday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $30.25.
Shares of Rayonier (NYSE RYN) opened at 29.42 on Friday. The firm has a 50-day moving average price of $28.72 and a 200-day moving average price of $28.56. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 24.79 and a beta of 0.34. Rayonier has a 12 month low of $25.33 and a 12 month high of $29.86.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. The company had revenue of $194.70 million for the quarter, compared to analyst estimates of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. Rayonier’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. Equities analysts expect that Rayonier will post $0.43 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.40%. Rayonier’s dividend payout ratio (DPR) is presently 84.75%.
Several large investors have recently bought and sold shares of RYN. UBS Asset Management Americas Inc. lifted its holdings in shares of Rayonier by 17.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 103,999 shares of the real estate investment trust’s stock valued at $2,947,000 after acquiring an additional 15,347 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Rayonier during the 1st quarter valued at $837,000. Sei Investments Co. lifted its holdings in shares of Rayonier by 418.0% during the 1st quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after acquiring an additional 19,513 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Rayonier by 3.4% during the 1st quarter. Ameriprise Financial Inc. now owns 387,013 shares of the real estate investment trust’s stock valued at $10,967,000 after acquiring an additional 12,583 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Rayonier by 10.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 107,738 shares of the real estate investment trust’s stock valued at $3,053,000 after acquiring an additional 9,814 shares in the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.
Rayonier Company Profile
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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