Rayonier (NYSE:RYN) Price Target Cut to $25.00 by Analysts at BMO Capital Markets

Rayonier (NYSE:RYN) had its price target cut by research analysts at BMO Capital Markets from $26.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 25.84% from the company’s current price.

RYN has been the topic of several other reports. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Truist Financial increased their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $26.00 to $28.00 in a report on Friday, February 13th. Finally, Citigroup lowered their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.80.

Rayonier Price Performance

Shares of NYSE RYN opened at $19.87 on Tuesday. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The business’s fifty day moving average price is $20.73 and its two-hundred day moving average price is $21.77. The firm has a market capitalization of $5.97 billion, a PE ratio of 6.58 and a beta of 0.90.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same period last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 233.9% on a year-over-year basis. On average, research analysts expect that Rayonier will post 0.36 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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. Also, Chairman Eric J. Cremers sold 169,200 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the completion of the transaction, the chairman owned 709,583 shares of the company’s stock, valued at $15,213,459.52. This trade represents a 19.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Rayonier by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust’s stock valued at $100,383,000 after purchasing an additional 94,033 shares during the period. UBS Group AG boosted its position in Rayonier by 882.5% during the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock worth $10,739,000 after acquiring an additional 445,538 shares during the period. Vanguard Group Inc. boosted its position in Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after acquiring an additional 444,503 shares during the period. Oak Thistle LLC acquired a new stake in Rayonier during the 4th quarter worth about $1,112,000. Finally, Convergence Investment Partners LLC boosted its position in Rayonier by 494.1% during the 4th quarter. Convergence Investment Partners LLC now owns 100,900 shares of the real estate investment trust’s stock worth $2,184,000 after acquiring an additional 83,915 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

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.