Rayonier Inc. REIT Price Target Lowered to $52.00 at RBC Capital (RYN)
Investment analysts at RBC Capital dropped their target price on shares of Rayonier Inc. REIT (NYSE:RYN) from $58.00 to $52.00 in a note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would indicate a potential downside of 5.57% from the stock’s previous close.
Shares of Rayonier Inc. REIT (NYSE:RYN) traded down 0.07% during mid-day trading on Wednesday, hitting $55.07. 535,848 shares of the company’s stock traded hands. Rayonier Inc. REIT has a one year low of $47.45 and a one year high of $60.62. The stock has a 50-day moving average of $55.76 and a 200-day moving average of $56.87. The company has a market cap of $6.940 billion and a price-to-earnings ratio of 18.30.
Rayonier Inc. REIT (NYSE:RYN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.03. The company had revenue of $409.10 million for the quarter, compared to the consensus estimate of $389.00 million. During the same quarter last year, the company posted $0.54 earnings per share. Rayonier Inc. REIT’s revenue was up 17.5% compared to the same quarter last year. On average, analysts predict that Rayonier Inc. REIT will post $2.30 earnings per share for the current fiscal year.
Rayonier Inc (NYSE:RYN) is a real estate investment trust (REIT).
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