Q1 2024 Earnings Estimate for Rayonier Inc. (NYSE:RYN) Issued By Zacks Research

Rayonier Inc. (NYSE:RYNFree Report) – Equities research analysts at Zacks Research boosted their Q1 2024 earnings estimates for Rayonier in a research report issued on Wednesday, March 20th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $0.03 for the quarter, up from their previous estimate of $0.02. The consensus estimate for Rayonier’s current full-year earnings is $0.48 per share. Zacks Research also issued estimates for Rayonier’s Q2 2024 earnings at $0.14 EPS and Q3 2025 earnings at $0.13 EPS.

Rayonier (NYSE:RYNGet Free Report) 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, hitting analysts’ consensus estimates of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The business had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. During the same quarter last year, the firm earned $0.11 EPS.

Other analysts have also recently issued reports about the company. Truist Financial increased their price objective on Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price target on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.00.

Check Out Our Latest Research Report on RYN

Rayonier Stock Up 0.2 %

Rayonier stock opened at $33.18 on Friday. Rayonier has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26. The firm has a 50 day moving average price of $32.94 and a 200 day moving average price of $30.92. The company has a market capitalization of $4.93 billion, a PE ratio of 28.36 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp purchased a new position in shares of Rayonier during the 3rd quarter worth approximately $26,000. Neo Ivy Capital Management purchased a new position in Rayonier in the second quarter worth $51,000. Fifth Third Bancorp lifted its holdings in Rayonier by 84.7% in the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock valued at $55,000 after acquiring 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 purchasing an additional 1,617 shares during the period. Finally, Point72 Middle East FZE purchased a new position in shares of Rayonier in the 4th quarter valued at about $82,000. 82.75% of the stock is owned by hedge funds and other institutional investors.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, March 13th. Rayonier’s dividend payout ratio is presently 97.44%.

Rayonier Company Profile

(Get Free Report)

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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.

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Earnings History and Estimates for Rayonier (NYSE:RYN)

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