Analysts Set Rayonier Inc. (NYSE:RYN) PT at $24.80

Rayonier Inc. (NYSE:RYN) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.80.

RYN has been the subject of several recent analyst reports. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Citigroup lowered their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a report on Thursday, April 16th. Finally, Truist Financial increased their price target on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th.

Rayonier Stock Performance

NYSE:RYN opened at $21.55 on Thursday. The stock has a fifty day moving average price of $20.87 and a 200-day moving average price of $21.59. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 7.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier has a fifty-two week low of $19.49 and a fifty-two week high of $27.33.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company’s revenue was up 233.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. As a group, equities analysts anticipate that Rayonier will post 0.36 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. Rayonier’s dividend payout ratio is presently 34.44%.

Insider Buying and Selling at Rayonier

In other news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Rayonier

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Rayonier by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock valued at $458,434,000 after buying an additional 444,503 shares during the period. Norges Bank acquired a new stake in shares of Rayonier in the fourth quarter valued at about $313,806,000. Cohen & Steers Inc. increased its stake in shares of Rayonier by 5.6% in the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after buying an additional 717,021 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after buying an additional 3,947,226 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Rayonier by 42.3% in the first quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock valued at $101,563,000 after buying an additional 1,463,118 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.