Rayonier Inc. (NYSE:RYN) Receives $34.50 Consensus PT from Analysts

Shares of Rayonier Inc. (NYSE:RYN) have been assigned an average recommendation of “Hold” from the two brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.50.

RYN has been the topic of several analyst reports. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Royal Bank of Canada increased their price objective on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Truist Financial increased their price target on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th.

Rayonier Price Performance

NYSE:RYN opened at $30.14 on Thursday. The stock has a market cap of $4.48 billion, a P/E ratio of 25.76 and a beta of 1.07. Rayonier has a one year low of $24.84 and a one year high of $35.29. The company has a fifty day moving average price of $32.66 and a 200 day moving average price of $31.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $467.40 million for the quarter, compared to analyst estimates of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same quarter in the previous year, the firm posted $0.11 EPS. Analysts anticipate that Rayonier will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.78%. Rayonier’s dividend payout ratio (DPR) is currently 97.44%.

Institutional Trading of Rayonier

Hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp acquired a new stake in Rayonier during the 3rd quarter worth approximately $26,000. Fifth Third Bancorp raised its holdings in Rayonier by 84.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 880 shares during the period. Signaturefd LLC grew its stake in shares of Rayonier by 371.7% during the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Rayonier by 525.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its stake in shares of Rayonier by 18.7% during the 1st quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 600 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Company Profile

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.