Citigroup Has Lowered Expectations for Rayonier (NYSE:RYN) Stock Price

Rayonier (NYSE:RYN) had its price target lowered by stock analysts at Citigroup from $23.00 to $19.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective would indicate a potential upside of 5.15% from the company’s current price.

RYN has been the topic of a number of other reports. Truist Financial cut their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Rayonier presently has an average rating of “Hold” and an average price target of $24.00.

Rayonier Stock Performance

Shares of Rayonier stock traded up $0.01 on Monday, reaching $18.07. 2,124,719 shares of the company were exchanged, compared to its average volume of 2,964,808. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 40.19 and a beta of 0.89. Rayonier has a 1-year low of $17.85 and a 1-year high of $27.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The company’s 50-day moving average is $20.63 and its two-hundred day moving average is $20.85.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The business’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, research analysts expect that Rayonier will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president owned 131,661 shares of the company’s stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rayonier

Several hedge funds have recently bought and sold shares of RYN. BlackRock Inc. purchased a new position in Rayonier during the 2nd quarter valued at about $617,451,000. Legal & General Group Plc purchased a new position in Rayonier during the second quarter valued at approximately $213,574,000. Deprince Race & Zollo Inc. acquired a new position in Rayonier in the 1st quarter valued at approximately $85,771,000. Atlas FRM LLC acquired a new position in Rayonier in the 2nd quarter valued at approximately $83,843,200. Finally, Bank of New York Mellon Corp purchased a new stake in Rayonier in the 2nd quarter worth approximately $52,572,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.