Rayonier Inc. (NYSE:RYN) Stock Has Average Price Target of $24.80 According to Analysts

Shares of Rayonier Inc. (NYSE:RYN) have been given an average recommendation of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.80.

RYN has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Finally, Truist Financial lowered their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th.

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the completion of the transaction, the executive vice president owned 131,661 shares in the company, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of Rayonier

A number of institutional investors have recently bought and sold shares of RYN. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier during the 4th quarter worth about $34,000. Bayban purchased a new stake in Rayonier during the first quarter worth approximately $36,000. Whittier Trust Co. boosted its holdings in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 969 shares in the last quarter. North Star Investment Management Corp. acquired a new position in Rayonier in the first quarter valued at approximately $51,000. Finally, Sunbelt Securities Inc. increased its stake in Rayonier by 124,900.0% in the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,498 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Performance

NYSE:RYN opened at $18.89 on Friday. The company has a fifty day simple moving average of $20.93 and a two-hundred day simple moving average of $20.92. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 41.99 and a beta of 0.87. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. Rayonier has a 52 week low of $18.87 and a 52 week high of $27.06.

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is 231.11%.

About Rayonier

Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier’s timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.