Rayonier (NYSE:RYN) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Rayonier (NYSE:RYN) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08, FiscalAI reports. Rayonier had a net margin of 97.94% and a return on equity of 4.11%. The business had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. During the same quarter last year, the business earned $0.24 EPS. The firm’s quarterly revenue was down 24.4% on a year-over-year basis.

Rayonier Price Performance

Shares of RYN opened at $22.50 on Friday. The firm has a market cap of $3.63 billion, a PE ratio of 7.38 and a beta of 0.98. Rayonier has a 52-week low of $21.06 and a 52-week high of $28.31. The business’s 50 day moving average price is $22.54 and its two-hundred day moving average price is $23.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.39 and a current ratio of 3.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. boosted its position in shares of Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock worth $122,261,000 after purchasing an additional 3,947,226 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Rayonier by 1,088.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 790,239 shares of the real estate investment trust’s stock worth $17,528,000 after buying an additional 723,732 shares during the period. Gotham Asset Management LLC boosted its holdings in Rayonier by 246.6% in the third quarter. Gotham Asset Management LLC now owns 960,747 shares of the real estate investment trust’s stock worth $25,498,000 after acquiring an additional 683,517 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Rayonier by 29.4% in the fourth quarter. Franklin Resources Inc. now owns 2,380,739 shares of the real estate investment trust’s stock worth $51,543,000 after acquiring an additional 540,832 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Rayonier by 97.0% in the fourth quarter. Renaissance Technologies LLC now owns 939,619 shares of the real estate investment trust’s stock valued at $20,343,000 after acquiring an additional 462,669 shares during the period. 89.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RYN shares. Truist Financial reduced their price target on Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $25.00 price objective on shares of Rayonier in a research note on Thursday, December 18th. Citigroup decreased their target price on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.50.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.