Brokerages Set Rayonier Inc. (NYSE:RYN) Target Price at $24.75

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.80.

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Citigroup reduced their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Raymond James Financial upgraded shares of Rayonier from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $26.00 to $28.00 in a report on Friday, February 13th. Finally, Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a report on Thursday, April 16th.

Rayonier Price Performance

Rayonier stock opened at $20.37 on Friday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 6.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. Rayonier has a 1 year low of $19.49 and a 1 year high of $27.33. The firm has a 50-day moving average of $20.67 and a two-hundred day moving average of $21.71.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm’s quarterly revenue was up 233.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. On average, research analysts forecast that Rayonier will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. Rayonier’s payout ratio is currently 34.44%.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Eric J. Cremers sold 169,200 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the completion of the sale, the chairman owned 709,583 shares of the company’s stock, valued at approximately $15,213,459.52. This represents a 19.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RYN. Norges Bank bought a new position in shares of Rayonier during the 4th quarter worth approximately $313,806,000. Deprince Race & Zollo Inc. bought a new position in shares of Rayonier during the 1st quarter worth approximately $85,771,000. Fuller & Thaler Asset Management Inc. raised its stake 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 acquiring an additional 3,947,226 shares in the last quarter. Kopernik Global Investors LLC bought a new position in shares of Rayonier during the 1st quarter worth approximately $45,086,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after acquiring an additional 1,463,118 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

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.