Rayonier Inc. (NYSE:RYN) Receives Average Rating of “Hold” from Analysts
Shares of Rayonier Inc. (NYSE:RYN) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.00.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, March 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $31.00 price target on shares of Rayonier in a research note on Wednesday, April 19th. Finally, Vertical Research raised shares of Rayonier to a “buy” rating in a research note on Sunday, May 28th.
Rayonier (NYSE:RYN) traded down 0.38% during mid-day trading on Tuesday, reaching $28.56. The company had a trading volume of 101,998 shares. The stock has a market cap of $3.53 billion, a PE ratio of 15.21 and a beta of 0.35. The firm’s 50-day moving average price is $28.39 and its 200-day moving average price is $28.16. Rayonier has a 12 month low of $25.24 and a 12 month high of $29.86.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The firm had revenue of $186.50 million during the quarter, compared to analyst estimates of $159.31 million. Rayonier had a net margin of 27.54% and a return on equity of 4.10%. The company’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Equities research analysts forecast that Rayonier will post $0.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, June 14th. Rayonier’s payout ratio is 53.48%.
In other Rayonier news, Director Andrew G. Wiltshire purchased 6,650 shares of the stock in a transaction dated Wednesday, May 10th. The shares were bought at an average price of $27.87 per share, with a total value of $185,335.50. Following the completion of the transaction, the director now directly owns 26,006 shares in the company, valued at approximately $724,787.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Rayonier during the fourth quarter valued at about $900,000. Envestnet Asset Management Inc. raised its stake in Rayonier by 140.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,733 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 3,348 shares during the period. Janus Capital Management LLC acquired a new stake in Rayonier during the fourth quarter valued at about $300,000. Thrivent Financial for Lutherans raised its stake in Rayonier by 3.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,267 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 1,160 shares during the period. Finally, Norges Bank acquired a new stake in Rayonier during the fourth quarter valued at about $31,453,000. 82.37% of the stock is currently owned by institutional investors.
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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