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

Shares of Rayonier Inc. (NYSE:RYN) have been given an average recommendation of “Hold” by the two research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $34.50.

Several brokerages have commented on RYN. StockNews.com lowered shares of Rayonier from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada upped their target price on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th.

Rayonier Trading Up 0.5 %

NYSE:RYN opened at $29.49 on Monday. The company has a fifty day moving average of $31.05 and a 200 day moving average of $31.89. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a quick ratio of 2.08, a current ratio of 2.46 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.39 billion, a P/E ratio of 26.33 and a beta of 1.09.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The business had revenue of $168.10 million during the quarter, compared to analyst estimates of $190.04 million. During the same period in the prior year, the business earned $0.01 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts predict that Rayonier will post 0.46 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.87%. The ex-dividend date is Friday, June 14th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Institutional Trading of Rayonier

Several institutional investors have recently bought and sold shares of the company. Walleye Trading LLC purchased a new stake in Rayonier during the 1st quarter valued at about $1,203,000. Tidal Investments LLC lifted its stake in Rayonier by 18.7% during the 1st quarter. Tidal Investments LLC now owns 65,094 shares of the real estate investment trust’s stock valued at $2,164,000 after acquiring an additional 10,251 shares during the period. Bayesian Capital Management LP bought a new position in Rayonier during the 1st quarter valued at about $262,000. Price T Rowe Associates Inc. MD lifted its stake in Rayonier by 1.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after acquiring an additional 196,571 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Rayonier during the 1st quarter valued at about $320,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.