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

Shares of Rayonier Inc. (NYSE:RYN) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Four research 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 recently issued reports on RYN. Royal Bank Of Canada boosted their price objective on Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Truist Financial dropped their target price on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. Wall Street Zen lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $26.00 to $28.00 in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research report on Friday, March 27th.

Rayonier Stock Performance

Shares of Rayonier stock opened at $20.86 on Friday. The stock’s fifty day simple moving average is $21.75 and its 200 day simple moving average is $22.79. 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 company has a market capitalization of $6.31 billion, a PE ratio of 6.84 and a beta of 0.97. Rayonier has a 12 month low of $19.49 and a 12 month high of $28.14.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 11th. 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. The firm had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The company’s revenue was down 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, research analysts predict that Rayonier will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, March 17th. Rayonier’s dividend payout ratio is 34.10%.

Insider Activity

In other Rayonier 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 sale, the chairman owned 709,583 shares of the company’s stock, valued at $15,213,459.52. This trade represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Rayonier by 2.1% during 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 acquiring an additional 444,503 shares during the last quarter. Norges Bank acquired a new position in shares of Rayonier during the 4th quarter worth about $313,806,000. Cohen & Steers Inc. boosted its stake in shares of 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 worth $293,332,000 after buying an additional 717,021 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Rayonier by 232.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after acquiring an additional 3,947,226 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Rayonier by 15.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,842,552 shares of the real estate investment trust’s stock valued at $107,408,000 after acquiring an additional 639,000 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

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.