Rayonier Inc. (RYN) Rating Reiterated by BMO Capital Markets
Rayonier Inc. (NYSE:RYN)‘s stock had its “market perform” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued on Monday.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 target price on shares of Rayonier in a report on Monday, July 31st. BidaskClub cut Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Vertical Research raised Rayonier to a “buy” rating in a 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 assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $30.00.
Rayonier (NYSE RYN) opened at 28.66 on Monday. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.14 and a beta of 0.35. Rayonier has a 52-week low of $25.24 and a 52-week high of $29.86. The company’s 50-day moving average price is $28.89 and its 200 day moving average price is $28.52.
Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The firm had revenue of $194.70 million during the quarter, compared to the consensus estimate of $151.50 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 47.4% compared to the same quarter last year. Equities research analysts predict that Rayonier will post $0.41 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 during the period. Vanguard Group Inc. increased its position in shares of 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 during the period. State Street Corp increased its position in shares of 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 during the period. Confluence Investment Management LLC increased its position in shares of 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 during the period. Finally, Northern Trust Corp increased its position in shares of 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 during the period. 82.12% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Company Profile
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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