Rayonier (NYSE:RYN) Rating Lowered to Sell at StockNews.com

Rayonier (NYSE:RYN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other research firms also recently commented on RYN. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a report on Friday, June 14th. Truist Financial decreased their price objective on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, July 16th.

Rayonier Price Performance

Shares of RYN stock traded up $0.09 on Friday, reaching $29.44. The company’s stock had a trading volume of 591,968 shares, compared to its average volume of 837,663. The stock’s fifty day simple moving average is $29.53 and its 200-day simple moving average is $31.03. Rayonier has a 1 year low of $24.84 and a 1 year high of $35.29. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 26.29 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same period in the previous year, the business earned $0.05 earnings per share. Rayonier’s revenue for the quarter was down 16.9% on a year-over-year basis. Analysts forecast that Rayonier will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Rayonier

A number of hedge funds have recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its holdings in Rayonier by 5.5% in the 1st quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 336 shares in the last quarter. M&T Bank Corp raised its position in shares of Rayonier by 4.4% during the 4th quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 344 shares during the last quarter. GAMMA Investing LLC lifted its stake in Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Rayonier by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock worth $5,694,000 after buying an additional 437 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Rayonier by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after buying an additional 439 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.