Rayonier Inc. (NYSE:RYN) Given Average Rating of “Hold” by Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.80.

Several research firms have issued reports on RYN. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. BMO Capital Markets cut their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Truist Financial raised their price target on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th.

Rayonier Trading Up 0.1%

RYN opened at $21.30 on Monday. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The stock has a market capitalization of $6.40 billion, a PE ratio of 7.05 and a beta of 0.88. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $21.53.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same period in the prior year, the business earned ($0.02) earnings per share. Rayonier’s quarterly revenue was up 233.9% on a year-over-year basis. As a group, equities analysts anticipate that Rayonier will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. Rayonier’s payout ratio is currently 34.44%.

Insider Buying and Selling at Rayonier

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Baker Ellis Asset Management LLC boosted its holdings in Rayonier by 3.8% during the fourth quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 469 shares during the last quarter. Bfsg LLC increased its stake in shares of Rayonier by 0.6% in the 4th quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after acquiring an additional 492 shares during the last quarter. Quarry LP raised its position in shares of Rayonier by 19.8% in the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 498 shares during the period. Greenwood Gearhart Inc. raised its position in shares of Rayonier by 4.9% in the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 502 shares during the period. Finally, Hartford Financial Management Inc. boosted its stake in Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 575 shares during the last quarter. Institutional investors and hedge funds 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.