Rayonier Inc. REIT Stock Rating Lowered by Raymond James (RYN)
Rayonier Inc. REIT (NYSE:RYN) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Rayonier Inc. REIT (NYSE:RYN) traded down 14.52% on Friday, hitting $46.98. 7,072,043 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 $56.65 and a 200-day moving average of $57.01. The company has a market cap of $5.921 billion and a P/E ratio of 18.25.
Rayonier Inc. REIT (NYSE:RYN) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.96 by $0.52. The company had revenue of $384.80 million for the quarter, compared to the consensus estimate of $915.14 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Friday, December 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Rayonier Inc. REIT from a “hold” rating to a “sell” rating in a research note to investors on Friday. They now have a $47.00 price target on the stock, down previously from $55.00. Analysts at RBC Capital cut their price target on shares of Rayonier Inc. REIT from $58.00 to $52.00 in a research note to investors on Wednesday, October 9th. They now have a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Rayonier Inc. REIT presently has a consensus rating of “Hold” and an average target price of $56.60.
Rayonier Inc (NYSE:RYN) is a real estate investment trust (REIT).
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