Brokerages Set Rayonier Inc. (NYSE:RYN) PT at $28.00

Shares of Rayonier Inc. (NYSE:RYN) have been given an average rating of “Hold” by the five analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.00.

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research note on Saturday, September 27th. Royal Bank Of Canada raised their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th.

Institutional Trading of Rayonier

A number of hedge funds have recently modified their holdings of RYN. Allworth Financial LP lifted its stake in shares of Rayonier by 213.7% during the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 829 shares during the last quarter. Elequin Capital LP bought a new position in Rayonier during the first quarter worth about $30,000. Parallel Advisors LLC increased its position in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 642 shares during the period. GKV Capital Management Co. Inc. bought a new position in Rayonier during the first quarter worth about $32,000. Finally, Byrne Asset Management LLC bought a new position in Rayonier during the first quarter worth about $38,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of RYN stock opened at $25.44 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of 5.14 and a beta of 0.99. 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 company has a fifty day moving average price of $26.16 and a two-hundred day moving average price of $24.73. Rayonier has a one year low of $21.84 and a one year high of $32.88.

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

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 22.02%.

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.