Rayonier Inc. (RYN) Rating Lowered to Market Perform at BMO Capital Markets
Rayonier Inc. (NYSE:RYN) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Monday. They presently have a $31.00 target price on the real estate investment trust’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 8.16% from the stock’s previous close.
Several other equities research analysts also recently commented on RYN. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price target on shares of Rayonier in a research report on Monday, July 31st. BidaskClub downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.00.
Shares of Rayonier (NYSE RYN) traded up 0.0914% during trading on Monday, hitting $28.6862. 145,159 shares of the stock were exchanged. Rayonier has a 52 week low of $25.24 and a 52 week high of $29.86. The firm has a market capitalization of $3.69 billion, a P/E ratio of 24.1670 and a beta of 0.35. The firm has a 50 day moving average price of $28.89 and a 200 day moving average price of $28.52.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $194.70 million for the quarter, compared to analyst estimates of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm’s revenue was up 47.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. Analysts forecast that Rayonier will post $0.41 EPS for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Rayonier by 6.5% in the second quarter. BlackRock Inc. now owns 12,050,093 shares of the real estate investment trust’s stock valued at $346,681,000 after buying an additional 732,408 shares in the last quarter. Vanguard Group Inc. raised its stake in Rayonier by 5.5% in the second quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock valued at $305,296,000 after buying an additional 551,924 shares in the last quarter. State Street Corp raised its stake in Rayonier by 2.1% in the first quarter. State Street Corp now owns 3,264,474 shares of the real estate investment trust’s stock valued at $92,518,000 after buying an additional 66,645 shares in the last quarter. Confluence Investment Management LLC raised its stake in Rayonier by 7.1% in the second quarter. Confluence Investment Management LLC now owns 2,844,858 shares of the real estate investment trust’s stock valued at $81,847,000 after buying an additional 189,668 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Rayonier by 4.4% in the second quarter. Northern Trust Corp now owns 1,603,300 shares of the real estate investment trust’s stock valued at $46,126,000 after buying an additional 67,125 shares in the last quarter. Institutional investors own 82.12% of the company’s stock.
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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