Truist Financial Increases Rayonier (NYSE:RYN) Price Target to $32.00

by · The Markets Daily

Rayonier (NYSE:RYN – Get Free Report) had its price objective upped by equities research analysts at Truist Financial from $31.00 to $32.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential downside of 1.05% from the stock’s current price.

Separately, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Check Out Our Latest Stock Report on Rayonier

Rayonier Price Performance

Shares of NYSE:RYN opened at $32.34 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The firm has a fifty day moving average price of $30.92 and a 200 day moving average price of $30.29. Rayonier has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 28.88 and a beta of 1.04.

Rayonier (NYSE:RYN – Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the prior year, the company posted $0.05 EPS. Rayonier’s revenue was down 16.9% compared to the same quarter last year. As a group, sell-side analysts expect that Rayonier will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rayonier

Several institutional investors have recently bought and sold shares of the business. Impax Asset Management Group plc lifted its holdings in shares of Rayonier by 17.3% in the 2nd quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock worth $197,226,000 after acquiring an additional 1,004,357 shares during the last quarter. Teramo Advisors LLC bought a new stake in shares of Rayonier in the 2nd quarter worth about $9,309,000. Central Securities Corp lifted its holdings in shares of Rayonier by 42.9% in the 1st quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust’s stock worth $33,240,000 after acquiring an additional 300,000 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Rayonier by 108.9% in the 1st quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust’s stock worth $17,995,000 after acquiring an additional 282,145 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Rayonier by 56.7% in the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock worth $21,900,000 after acquiring an additional 272,349 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

About Rayonier

(Get Free Report)

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

Recommended Stories