BMO Capital Markets reiterated their hold rating on shares of Rayonier Inc. (NYSE:RYN) in a report released on Thursday, November 2nd. They currently have a $31.00 price objective on the real estate investment trust’s stock.
RYN has been the subject of a number of other reports. Zacks Investment Research downgraded Rayonier from a strong-buy rating to a hold rating in a report on Tuesday, October 17th. Royal Bank Of Canada reissued a hold rating and issued a $28.00 target price on shares of Rayonier in a report on Monday, July 31st. Finally, BidaskClub downgraded Rayonier from a hold rating to a sell rating in a report on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $31.25.
Shares of Rayonier (NYSE:RYN) traded up $0.42 during midday trading on Thursday, hitting $31.52. The stock had a trading volume of 423,970 shares, compared to its average volume of 549,132. The firm has a market capitalization of $4,040.00, a PE ratio of 63.92, a PEG ratio of 11.65 and a beta of 0.42. Rayonier has a twelve month low of $26.07 and a twelve month high of $31.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.45.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. The firm had revenue of $177.90 million during the quarter, compared to analyst estimates of $144.06 million. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. Rayonier’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. analysts expect that Rayonier will post 0.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, December 14th. Rayonier’s dividend payout ratio (DPR) is presently 94.34%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado increased its position in Rayonier by 0.5% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 29,895 shares of the real estate investment trust’s stock worth $860,000 after purchasing an additional 154 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rayonier by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 351 shares during the period. UBS Group AG increased its position in Rayonier by 0.8% during the 1st quarter. UBS Group AG now owns 52,635 shares of the real estate investment trust’s stock worth $1,491,000 after purchasing an additional 418 shares during the period. Aperio Group LLC increased its position in Rayonier by 1.5% during the 2nd quarter. Aperio Group LLC now owns 29,965 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 437 shares during the period. Finally, Afam Capital Inc. increased its position in Rayonier by 1.7% during the 2nd quarter. Afam Capital Inc. now owns 32,216 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 549 shares during the period. Institutional investors own 83.02% of the company’s stock.
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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