Rayonier Inc. (NYSE:RYN) Receives $33.00 Average Price Target from Analysts

Rayonier Inc. (NYSE:RYN) has earned a consensus rating of “Hold” from the two analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.00.

A number of brokerages recently weighed in on RYN. Truist Financial raised their price objective on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Rayonier Stock Up 0.3 %

RYN opened at $31.64 on Thursday. Rayonier has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The business has a 50-day moving average of $31.14 and a 200-day moving average of $30.28. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. The company has a market capitalization of $4.71 billion, a PE ratio of 28.25 and a beta of 1.04.

Rayonier (NYSE:RYN) last posted its quarterly 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 firm had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. Equities research analysts forecast that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Tuesday, December 17th. Rayonier’s payout ratio is presently 101.79%.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.

Institutional Trading of Rayonier

Institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in Rayonier by 18.7% in the 1st quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 2,143 shares in the last quarter. State of Michigan Retirement System boosted its stake in Rayonier by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 33,493 shares of the real estate investment trust’s stock valued at $1,113,000 after buying an additional 800 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Rayonier by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock valued at $2,815,000 after buying an additional 439 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Rayonier by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 514,509 shares of the real estate investment trust’s stock valued at $17,102,000 after buying an additional 12,971 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

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.