Citigroup Lowers Rayonier (NYSE:RYN) Price Target to $25.00

Rayonier (NYSE:RYN) had its price target cut by equities research analysts at Citigroup from $32.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price would suggest a potential downside of 3.62% from the company’s current price.

Several other analysts have also issued reports on RYN. Truist Financial reduced their price objective on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $29.67.

Rayonier Trading Up 0.3 %

Shares of RYN stock traded up $0.08 on Wednesday, hitting $25.94. 964,305 shares of the stock traded hands, compared to its average volume of 856,993. Rayonier has a twelve month low of $24.88 and a twelve month high of $35.29. The stock has a market capitalization of $3.87 billion, a PE ratio of 24.47 and a beta of 1.04. The firm’s 50-day moving average price is $28.80 and its two-hundred day moving average price is $29.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Rayonier

Large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Rayonier by 26.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after purchasing an additional 695,810 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Rayonier by 2,950.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock valued at $9,532,000 after buying an additional 286,510 shares in the last quarter. Millennium Management LLC grew its position 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 valued at $21,900,000 after buying an additional 272,349 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rayonier by 119.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after acquiring an additional 249,173 shares in the last quarter. Finally, State Street Corp lifted its position in Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after acquiring an additional 104,464 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Company Profile

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.