Rayonier Inc. (NYSE:RYN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have received an average recommendation of “Hold” from the four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.50.

A number of research analysts have recently issued reports on the company. Truist Financial dropped their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. StockNews.com lowered Rayonier from a “buy” rating to a “sell” rating in a report on Monday, May 5th. Royal Bank of Canada decreased their price target on Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup decreased their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th.

Rayonier Trading Up 0.6%

NYSE:RYN opened at $23.52 on Wednesday. The firm has a market cap of $3.66 billion, a P/E ratio of 9.97 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $25.77 and its 200-day simple moving average is $27.23. Rayonier has a 12-month low of $22.80 and a 12-month high of $31.29.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts anticipate that Rayonier will post 0.55 EPS for the current year.

Institutional Trading of Rayonier

Institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rayonier in the fourth quarter valued at approximately $25,000. American National Bank & Trust purchased a new stake in Rayonier during the first quarter worth $28,000. Parallel Advisors LLC boosted its position in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 642 shares in the last quarter. UMB Bank n.a. boosted its position in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Rayonier during the first quarter worth $38,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.