Rayonier (NYSE:RYN) Stock Rating Upgraded by StockNews.com

Rayonier (NYSE:RYN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other research analysts have also recently issued reports on RYN. Truist Financial reduced their price objective on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada dropped their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Citigroup decreased their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th.

Rayonier Price Performance

NYSE:RYN traded up $0.17 during mid-day trading on Monday, reaching $26.07. The stock had a trading volume of 865,586 shares, compared to its average volume of 1,026,794. Rayonier has a one year low of $24.88 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm has a 50 day moving average price of $26.07 and a two-hundred day moving average price of $29.25. The stock has a market capitalization of $3.88 billion, a P/E ratio of 11.04 and a beta of 1.03.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. As a group, analysts expect that Rayonier will post 0.55 earnings per share for the current year.

Rayonier announced that its board has authorized a share buyback program on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Rayonier in the 4th quarter worth approximately $343,007,000. State Street Corp raised its holdings in shares of Rayonier by 2.5% during 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Rayonier by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust’s stock worth $88,031,000 after acquiring an additional 20,126 shares during the period. Legal & General Group Plc boosted its holdings in Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust’s stock valued at $81,101,000 after acquiring an additional 170,087 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Rayonier by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust’s stock valued at $68,719,000 after purchasing an additional 39,332 shares during the period. Hedge funds and other institutional investors 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.