Royal Bank Of Canada restated their hold rating on shares of Rayonier Inc. (NYSE:RYN) in a report published on Sunday morning. They currently have a $29.00 price target on the real estate investment trust’s stock.
Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reiterated a hold rating and set a $31.00 price objective on shares of Rayonier in a research report on Friday, September 29th. BidaskClub downgraded Rayonier from a hold rating to a sell rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded Rayonier from a hold rating to a sell rating in a research report on Wednesday, July 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Rayonier has a consensus rating of Hold and a consensus price target of $30.25.
Rayonier (NYSE RYN) opened at 29.17 on Friday. Rayonier has a 12-month low of $25.33 and a 12-month high of $29.86. The firm has a market capitalization of $3.75 billion, a PE ratio of 24.57 and a beta of 0.34. The stock has a 50 day moving average price of $28.60 and a 200-day moving average price of $28.52.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company had revenue of $194.70 million during the quarter, compared to the consensus estimate of $151.50 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. On average, equities research analysts forecast that Rayonier will post $0.43 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.43%. Rayonier’s dividend payout ratio (DPR) is presently 84.75%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 642 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Rayonier by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 2,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rayonier by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 351 shares in the last quarter. Enterprise Financial Services Corp purchased a new stake in shares of Rayonier in the second quarter valued at $144,000. Finally, Creative Planning lifted its holdings in shares of Rayonier by 36.2% in the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,417 shares in the last quarter. Institutional investors own 82.40% of the company’s stock.
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.
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