Rayonier (NYSE:RYN) Lowered to “Sell” Rating by StockNews.com

Rayonier (NYSE:RYN) was downgraded by StockNews.com from a “buy” rating to a “sell” rating in a research report issued on Monday.

A number of other research firms also recently issued reports on RYN. Citigroup lowered their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada lowered their price target on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Finally, Truist Financial cut their price objective on Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and an average price target of $27.50.

Rayonier Stock Down 1.1 %

Shares of RYN stock opened at $22.95 on Monday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 9.72 and a beta of 1.07. Rayonier has a 12-month low of $22.80 and a 12-month high of $31.29. The firm has a fifty day moving average of $25.98 and a 200-day moving average of $27.43. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. As a group, equities research analysts predict that Rayonier will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RYN. Norges Bank acquired a new stake in shares of Rayonier during the 4th quarter worth about $343,007,000. Deutsche Bank AG grew its position in shares of Rayonier by 730.8% in the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock valued at $47,748,000 after purchasing an additional 1,609,232 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Rayonier in the fourth quarter valued at approximately $30,935,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rayonier during the 1st quarter worth approximately $23,582,000. Finally, Millennium Management LLC boosted its stake in Rayonier by 253.3% in the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust’s stock valued at $28,576,000 after purchasing an additional 784,955 shares during the period. 89.12% of the stock is owned by 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.