Rayonier Inc. (RYN) Given Average Recommendation of “Buy” by Analysts
Rayonier Inc. (NYSE:RYN) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.67.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Monday, November 6th. Royal Bank of Canada restated a “hold” rating and issued a $29.00 price objective on shares of Rayonier in a research note on Sunday, October 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $31.00 target price on shares of Rayonier in a report on Friday, September 29th. Finally, BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Rayonier by 6.5% in the 2nd quarter. BlackRock Inc. now owns 12,050,093 shares of the real estate investment trust’s stock worth $346,681,000 after buying an additional 732,408 shares during the period. Vanguard Group Inc. boosted its holdings in Rayonier by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock worth $305,296,000 after buying an additional 551,924 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Rayonier by 0.9% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,727,707 shares of the real estate investment trust’s stock worth $136,583,000 after buying an additional 41,077 shares during the period. State Street Corp boosted its holdings in Rayonier by 5.7% in the 2nd quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock worth $99,289,000 after buying an additional 186,679 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in Rayonier by 25.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,205,523 shares of the real estate investment trust’s stock worth $63,717,000 after buying an additional 451,033 shares during the period. 83.39% of the stock is owned by institutional investors.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $177.90 million during the quarter, compared to analyst estimates of $144.06 million. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. Rayonier’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. research analysts anticipate that Rayonier will post 0.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, December 14th. Rayonier’s dividend payout ratio is currently 95.24%.
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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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