Rayonier Inc. (NYSE:RYN) Given Average Recommendation of “Hold” by Brokerages

Rayonier Inc. (NYSE:RYN) has been assigned an average rating of “Hold” from the two research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $34.00.

RYN has been the topic of several research reports. StockNews.com lowered Rayonier from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price target on shares of Rayonier in a report on Friday, June 14th.

Institutional Trading of Rayonier

A number of institutional investors have recently modified their holdings of the company. Swiss National Bank lifted its position in Rayonier by 1.5% during the third quarter. Swiss National Bank now owns 309,500 shares of the real estate investment trust’s stock valued at $8,808,000 after acquiring an additional 4,500 shares during the last quarter. Deutsche Bank AG increased its position in shares of Rayonier by 39.8% during the third quarter. Deutsche Bank AG now owns 22,436 shares of the real estate investment trust’s stock worth $639,000 after purchasing an additional 6,384 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Rayonier during the 3rd quarter valued at $914,000. Natixis Advisors L.P. boosted its position in shares of Rayonier by 100.2% in the 3rd quarter. Natixis Advisors L.P. now owns 23,395 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 11,710 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Rayonier during the 3rd quarter worth $393,000. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

Shares of RYN stock opened at $30.16 on Friday. The company has a market capitalization of $4.49 billion, a P/E ratio of 26.79 and a beta of 1.07. The company’s 50-day simple moving average is $30.15 and its two-hundred day simple moving average is $31.85. Rayonier has a one year low of $24.84 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. Rayonier’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that Rayonier will post 0.46 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.14 dividend on an annualized basis and a yield of 3.78%. Rayonier’s dividend payout ratio is presently 101.79%.

About Rayonier

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.