Rayonier (NYSE:RYN) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently commented on RYN. Royal Bank of Canada reissued a sector perform rating and issued a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th. Truist Financial dropped their price objective on shares of Rayonier from $34.00 to $31.00 and set a hold rating on the stock in a research report on Tuesday, July 16th.

Rayonier Price Performance

Rayonier stock opened at $29.45 on Friday. Rayonier has a 52-week low of $24.84 and a 52-week high of $35.29. The company’s 50 day moving average is $29.39 and its two-hundred day moving average is $30.93. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The firm has a market cap of $4.38 billion, a PE ratio of 26.29 and a beta of 1.05.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm had revenue of $173.60 million during the quarter, compared to analysts’ expectations of $218.86 million. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, research analysts expect that Rayonier will post 0.41 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in shares of Rayonier in the 1st quarter valued at $26,000. GAMMA Investing LLC grew its position in shares of Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Rayonier in the 2nd quarter valued at $40,000. Fifth Third Bancorp grew its position in shares of Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 660 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Rayonier by 488.6% in the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,290 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.