Brokerages Set Rayonier Inc. (NYSE:RYN) PT at $34.50

Rayonier Inc. (NYSE:RYN) has earned an average rating of “Hold” from the two brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $34.50.

A number of brokerages recently commented on RYN. Royal Bank of Canada increased their price target on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Truist Financial upped their price target on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Monday, February 26th.

Rayonier Stock Up 0.1 %

NYSE RYN opened at $30.16 on Thursday. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73. Rayonier has a 12 month low of $24.84 and a 12 month high of $35.29. The stock’s 50 day moving average is $32.73 and its 200 day moving average is $31.41. The stock has a market cap of $4.48 billion, a PE ratio of 25.78 and a beta of 1.07.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $467.40 million during the quarter, compared to analysts’ expectations of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same period last year, the company posted $0.11 earnings per share. Research analysts predict that Rayonier will post 0.48 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 payout ratio is 97.44%.

Institutional Trading of Rayonier

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new stake in Rayonier during the 3rd quarter valued at about $26,000. Fifth Third Bancorp raised its stake in shares of Rayonier by 84.7% during 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 in the last quarter. Signaturefd LLC boosted its holdings in shares of Rayonier by 371.7% in the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,617 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Rayonier by 525.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,143 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its holdings in 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 purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

About Rayonier

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.