Rayonier (NYSE:RYN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a hold rating to a buy rating in a report released on Thursday.

Several other brokerages also recently commented on RYN. Truist Financial lifted their target price on Rayonier from $33.00 to $34.00 and gave the stock a hold rating in a report on Thursday, January 4th. Royal Bank of Canada raised their price objective on Rayonier from $34.00 to $35.00 and gave the stock a sector perform rating in a research report on Friday, February 2nd. Finally, TheStreet upgraded Rayonier from a c+ rating to a b- rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $34.50.

Rayonier Stock Down 0.2 %

NYSE:RYN opened at $29.36 on Thursday. Rayonier has a one year low of $24.84 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04. The company has a market cap of $4.36 billion, a PE ratio of 26.21 and a beta of 1.09. The firm’s 50 day simple moving average is $32.36 and its 200 day simple moving average is $31.47.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. During the same quarter last year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts anticipate that Rayonier will post 0.48 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.285 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.88%. Rayonier’s payout ratio is 101.79%.

Institutional Trading of Rayonier

A number of institutional investors have recently bought and sold shares of the company. Duff & Phelps Investment Management Co. acquired a new stake in shares of Rayonier during the 4th quarter worth approximately $1,470,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rayonier in the third quarter valued at $914,000. J.P. Morgan Private Wealth Advisors LLC increased its stake in Rayonier by 66.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock valued at $6,514,000 after purchasing an additional 91,141 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Rayonier during the third quarter valued at about $393,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Rayonier by 1.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock worth $3,434,000 after purchasing an additional 1,435 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

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.