StockNews.com Lowers Rayonier (NYSE:RYN) to Hold

Rayonier (NYSE:RYN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada upped 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 Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Rayonier Stock Performance

RYN stock opened at $29.67 on Friday. The stock has a market capitalization of $4.41 billion, a PE ratio of 26.49 and a beta of 1.09. The stock’s 50 day simple moving average is $32.04 and its 200 day simple moving average is $31.57. Rayonier has a 12-month low of $24.84 and a 12-month high of $35.29. The company has a current ratio of 2.46, a quick ratio of 2.04 and a debt-to-equity ratio of 0.74.

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

Hedge Funds Weigh In On Rayonier

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Rayonier during the fourth quarter worth $439,076,000. Victory Capital Management Inc. boosted its position in Rayonier by 2.7% during the third quarter. Victory Capital Management Inc. now owns 3,965,573 shares of the real estate investment trust’s stock valued at $112,860,000 after purchasing an additional 105,884 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rayonier by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock worth $78,100,000 after buying an additional 75,749 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Rayonier during the first quarter worth $77,027,000. Finally, Cohen & Steers Inc. acquired a new position in Rayonier during the 4th quarter valued at about $51,265,000. 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.