Rayonier Inc. (NYSE:RYN) Given Average Rating of “Hold” by Brokerages

Rayonier Inc. (NYSE:RYN) has been given an average rating of “Hold” by the five analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of research firms recently weighed in on RYN. Citigroup upped their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Royal Bank Of Canada increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Rayonier in a research note on Tuesday, October 14th.

Rayonier Stock Down 0.3%

Shares of NYSE:RYN opened at $23.26 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38. The firm has a market capitalization of $3.58 billion, a PE ratio of 4.70 and a beta of 0.99. The firm’s 50-day moving average is $25.85 and its two-hundred day moving average is $24.58. Rayonier has a 1 year low of $21.84 and a 1 year high of $32.88.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. Analysts predict that Rayonier will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, December 10th. Rayonier’s dividend payout ratio is currently 22.02%.

Hedge Funds Weigh In On Rayonier

Several hedge funds have recently added to or reduced their stakes in the stock. Elequin Capital LP acquired a new stake in shares of Rayonier in the first quarter valued at approximately $30,000. Hartford Financial Management Inc. acquired a new stake in shares of Rayonier in the third quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier in the first quarter valued at approximately $32,000. Allworth Financial LP boosted its holdings in shares of Rayonier by 213.7% in the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 829 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Rayonier by 138.9% in the third quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 986 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.