Rayonier Inc. (NYSE:RYN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have received an average rating of “Hold” from the two analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $34.50.

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada lifted their target price on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, Truist Financial lifted their price objective on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th.

Rayonier Stock Up 0.5 %

RYN stock opened at $29.82 on Thursday. The stock has a market capitalization of $4.43 billion, a PE ratio of 25.49 and a beta of 1.07. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $32.58 and a 200 day moving average of $31.48.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same period in the previous year, the firm posted $0.11 earnings per share. Sell-side analysts forecast that Rayonier will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier’s dividend payout ratio (DPR) is 97.44%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp acquired a new stake in shares of Rayonier during the 3rd quarter worth approximately $26,000. Fifth Third Bancorp lifted its stake in shares of Rayonier by 84.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 880 shares during the period. Signaturefd LLC boosted its holdings in Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Rayonier by 525.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 2,143 shares during the period. Finally, Financial Management Professionals Inc. increased its holdings in Rayonier by 18.7% in the first quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 600 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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.