Analysts Set Rayonier Inc. (NYSE:RYN) Target Price at $26.00

Rayonier Inc. (NYSE:RYN) has been assigned an average rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $26.00.

Several brokerages have recently issued reports on RYN. Wall Street Zen cut Rayonier from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Citigroup decreased their price target on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Finally, Truist Financial lowered their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th.

Insider Activity at Rayonier

In related news, Chairman Eric J. Cremers sold 169,200 shares of Rayonier stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $21.44, for a total value of $3,627,648.00. Following the completion of the transaction, the chairman owned 709,583 shares in the company, valued at approximately $15,213,459.52. This trade represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Rayonier

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after purchasing an additional 444,503 shares during the period. Norges Bank purchased a new stake in Rayonier during the 4th quarter valued at $313,806,000. Cohen & Steers Inc. raised its holdings in Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after buying an additional 717,021 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in Rayonier by 232.2% in the fourth 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 buying an additional 3,947,226 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Rayonier by 15.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,842,552 shares of the real estate investment trust’s stock worth $107,408,000 after buying an additional 639,000 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Trading Down 2.1%

Shares of RYN stock opened at $21.11 on Tuesday. Rayonier has a 12-month low of $20.66 and a 12-month high of $28.31. The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $22.67 and its 200-day moving average price is $23.49. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 6.92 and a beta of 0.98.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm’s revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. Equities research analysts predict that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, March 17th. Rayonier’s dividend payout ratio is currently 35.74%.

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.