Rayonier (NYSE:RYN) Price Target Cut to $24.00 by Analysts at Citigroup

Rayonier (NYSE:RYN) had its target price reduced by investment analysts at Citigroup from $27.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective points to a potential upside of 8.54% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research report on Tuesday. Finally, Royal Bank Of Canada upped their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.25.

Rayonier Stock Down 1.2%

RYN traded down $0.27 during trading on Wednesday, hitting $22.11. 1,404,608 shares of the company’s stock traded hands, compared to its average volume of 1,146,936. Rayonier has a 12-month low of $21.23 and a 12-month high of $32.74. The company’s 50 day simple moving average is $25.02 and its two-hundred day simple moving average is $24.40. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 4.47 and a beta of 0.98.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $177.53 million for the quarter, compared to analysts’ expectations of $162.82 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.Rayonier’s revenue was up 43.0% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS. FY 2025 guidance at 0.410- EPS. Analysts predict that Rayonier will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier

A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Rayonier during the 2nd quarter valued at approximately $304,538,000. AQR Capital Management LLC grew its holdings in Rayonier by 1,287.3% during the 1st quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust’s stock valued at $41,991,000 after buying an additional 1,397,555 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Rayonier by 30.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust’s stock valued at $117,195,000 after buying an additional 971,167 shares during the last quarter. Nuveen LLC purchased a new position in shares of Rayonier in the first quarter worth $26,187,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Rayonier during the first quarter worth $23,582,000. Institutional investors own 89.12% of the company’s stock.

Rayonier Company Profile

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.