Analysts Set Rayonier Inc. (NYSE:RYN) Price Target at $32.50

Rayonier Inc. (NYSE:RYN) has been assigned a consensus rating of “Hold” from the two brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $32.50.

Several equities research analysts have recently weighed in on RYN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th. Truist Financial decreased their price target on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Rayonier Trading Up 1.3 %

Shares of Rayonier stock opened at $32.15 on Friday. The stock’s 50-day simple moving average is $30.50 and its 200 day simple moving average is $30.42. Rayonier has a 52-week low of $24.84 and a 52-week high of $35.29. The stock has a market capitalization of $4.79 billion, a P/E ratio of 28.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. As a group, research analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Insider Buying and Selling

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by company insiders.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC boosted its stake in Rayonier by 16.9% in the second quarter. Algert Global LLC now owns 98,411 shares of the real estate investment trust’s stock worth $2,863,000 after buying an additional 14,221 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Rayonier by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 449,296 shares of the real estate investment trust’s stock worth $13,070,000 after buying an additional 11,604 shares in the last quarter. Millennium Management LLC boosted its stake in Rayonier by 56.7% in the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock worth $21,900,000 after buying an additional 272,349 shares in the last quarter. Bank of Montreal Can boosted its stake in Rayonier by 2.1% in the second quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 490 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Rayonier by 13.8% in the second quarter. Ensign Peak Advisors Inc now owns 69,021 shares of the real estate investment trust’s stock worth $2,008,000 after buying an additional 8,385 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

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.