StockNews.com Upgrades Rayonier (NYSE:RYN) to “Buy”

Rayonier (NYSE:RYN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other research analysts have also commented on RYN. Royal Bank of Canada boosted their price target on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, Truist Financial boosted their price objective on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Rayonier Stock Down 0.2 %

NYSE:RYN traded down $0.06 during mid-day trading on Thursday, reaching $29.36. The company’s stock had a trading volume of 447,270 shares, compared to its average volume of 381,490. The company has a quick ratio of 2.04, a current ratio of 2.46 and a debt-to-equity ratio of 0.74. Rayonier has a 1 year low of $24.84 and a 1 year high of $35.29. The stock has a fifty day moving average of $32.36 and a 200-day moving average of $31.47. The firm has a market capitalization of $4.36 billion, a PE ratio of 26.21 and a beta of 1.09.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. Equities research analysts forecast that Rayonier will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RYN. CENTRAL TRUST Co grew its stake in Rayonier by 5.5% during the 1st quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 336 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Rayonier by 4.4% during the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 344 shares during the period. Leavell Investment Management Inc. boosted its position in Rayonier by 1.0% in the fourth quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock valued at $1,289,000 after buying an additional 363 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Rayonier by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock worth $5,694,000 after buying an additional 437 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Rayonier by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

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.