Royal Bank of Canada Has Lowered Expectations for Rayonier (NYSE:RYN) Stock Price

Rayonier (NYSE:RYN) had its target price decreased by equities research analysts at Royal Bank of Canada from $33.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 14.39% from the stock’s current price.

Several other research firms have also issued reports on RYN. Truist Financial dropped their price objective on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Citigroup dropped their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.33.

Rayonier Stock Down 0.5 %

Shares of Rayonier stock traded down $0.13 on Friday, reaching $26.23. 696,445 shares of the company were exchanged, compared to its average volume of 786,718. Rayonier has a one year low of $24.88 and a one year high of $35.29. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $27.27 and a 200 day moving average of $29.63. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 24.69 and a beta of 1.03.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. On average, equities research analysts forecast that Rayonier will post 0.38 earnings per share for the current year.

Rayonier announced that its Board of Directors has initiated a share buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Rayonier

Several institutional investors and hedge funds have recently bought and sold shares of RYN. V Square Quantitative Management LLC bought a new stake in shares of Rayonier during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its stake in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 672 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,042 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 525 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Rayonier by 264.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,217 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.