Rayonier Inc. (RYN) Given Consensus Recommendation of “Buy” by Brokerages

Rayonier Inc. (NYSE:RYN) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.67.

Several research firms have weighed in on RYN. Royal Bank of Canada reaffirmed a “hold” rating and issued a $29.00 price target on shares of Rayonier in a research note on Wednesday, November 15th. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Monday, November 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $31.00 price target on shares of Rayonier in a research note on Thursday, November 2nd.

Large investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Rayonier by 5.7% during the second quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock worth $99,289,000 after acquiring an additional 186,679 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Rayonier by 5.5% during the second quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock worth $305,296,000 after acquiring an additional 551,924 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Rayonier by 2.2% during the third quarter. Mutual of America Capital Management LLC now owns 104,494 shares of the real estate investment trust’s stock worth $3,019,000 after purchasing an additional 2,288 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Rayonier by 8.7% during the second quarter. Principal Financial Group Inc. now owns 546,619 shares of the real estate investment trust’s stock worth $15,726,000 after purchasing an additional 43,842 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Rayonier by 6.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 802,491 shares of the real estate investment trust’s stock worth $23,088,000 after purchasing an additional 51,080 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

Rayonier (RYN) traded down $0.34 on Tuesday, reaching $31.64. 325,828 shares of the company’s stock traded hands, compared to its average volume of 580,255. Rayonier has a 12-month low of $26.84 and a 12-month high of $32.31. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4,111.63, a P/E ratio of 30.13, a P/E/G ratio of 11.76 and a beta of 0.39.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.14. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The firm had revenue of $177.90 million during the quarter, compared to the consensus estimate of $144.06 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. analysts forecast that Rayonier will post 0.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, December 14th. Rayonier’s payout ratio is presently 95.24%.

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Rayonier Company Profile

Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.

Analyst Recommendations for Rayonier (NYSE:RYN)

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