Analysts Set Rayonier Inc. (NYSE:RYN) Price Target at $26.00

by · The Cerbat Gem

Rayonier Inc. (NYSE:RYNGet Free Report) has been given a consensus rating of “Hold” by the five research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts have recently weighed in on RYN shares. Wall Street Zen cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Friday, March 27th. Truist Financial decreased their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. Raymond James Financial raised shares of Rayonier from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $26.00 to $28.00 in a report on Friday, February 13th. Finally, Royal Bank Of Canada lifted their price target on shares of Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th.

View Our Latest Stock Report on RYN

Rayonier Stock Up 0.1%

RYN opened at $21.11 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.23. Rayonier has a 12 month low of $19.49 and a 12 month high of $28.14. The stock has a market capitalization of $6.38 billion, a P/E ratio of 6.92 and a beta of 0.97. The business has a 50 day simple moving average of $21.64 and a 200-day simple moving average of $22.74.

Rayonier (NYSE:RYNGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $117.50 million for the quarter, compared to analyst estimates of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.Rayonier’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, equities analysts anticipate that Rayonier will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 34.10%.

Insider Transactions at Rayonier

In other Rayonier news, Chairman Eric J. Cremers sold 169,200 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $21.44, for a total transaction of $3,627,648.00. Following the sale, the chairman directly owned 709,583 shares in the company, valued at approximately $15,213,459.52. The trade was a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RYN. JPMorgan Chase & Co. lifted its stake in Rayonier by 25.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock valued at $81,807,000 after buying an additional 754,076 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Rayonier during the 3rd quarter valued at $674,000. Prudential Financial Inc. increased its position in Rayonier by 102.7% during the second quarter. Prudential Financial Inc. now owns 156,988 shares of the real estate investment trust’s stock worth $3,482,000 after buying an additional 79,553 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new position in shares of Rayonier in the second quarter worth $542,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Rayonier in the second quarter worth $1,144,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

(Get Free Report)

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.

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