Rayonier Inc. (NYSE:RYN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, October 17th.
According to Zacks, “Shares of Rayonier have underperformed its industry, year to date. However, the stock has seen the Zacks Consensus Estimate for third quarter and current-year earnings remaining unchanged in two months’ time. The company’s portfolio of timberlands reflects geographical diversity. Moreover, it is likely to benefit from the recent developments in biogenetics & cloning that help in fast growth of trees. Also, Rayonier has upgraded its U.S. South portfolio through strategic acquisitions and is expected to gain from the recovery in the country’s housing sector. However, foreign exchange fluctuations, tough compliance requirements and seasonality of the forest products industry remain concerns.”
A number of other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $29.00 target price on shares of Rayonier in a research note on Sunday, October 8th. BMO Capital Markets restated a “hold” rating and set a $31.00 price target on shares of Rayonier in a report on Friday, September 29th. Finally, BidaskClub downgraded shares of 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 given a buy rating and one has given a strong buy rating to the company’s stock. Rayonier presently has a consensus rating of “Buy” and an average target price of $31.25.
Rayonier (NYSE:RYN) traded up $0.18 on Tuesday, reaching $30.94. 691,276 shares of the company traded hands, compared to its average volume of 464,378. Rayonier has a 52-week low of $25.85 and a 52-week high of $30.98. The firm has a market capitalization of $3,960.00, a price-to-earnings ratio of 62.78, a price-to-earnings-growth ratio of 12.75 and a beta of 0.42. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $177.90 million for the quarter, compared to analyst estimates of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. Rayonier’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. equities analysts anticipate that Rayonier will post 0.48 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in Rayonier by 22.0% during the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 642 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in 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 acquiring an additional 2,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 during the period. Enterprise Financial Services Corp bought a new position in shares of Rayonier in the second quarter valued at about $144,000. Finally, Creative Planning raised its position 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 during the period. Institutional investors and hedge funds own 82.64% 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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