Rayonier Inc. (NYSE:RYN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rayonier Inc. (NYSE:RYN) have earned an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.80.

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Truist Financial reduced their price target on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. BMO Capital Markets lowered their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st.

Rayonier Price Performance

RYN opened at $20.55 on Tuesday. The company has a fifty day simple moving average of $21.46 and a 200 day simple moving average of $21.20. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 45.67 and a beta of 0.87. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.06. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm’s revenue was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Equities research analysts expect that Rayonier will post 0.44 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. Rayonier’s dividend payout ratio (DPR) is presently 231.11%.

Institutional Trading of Rayonier

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Rayonier during the 2nd quarter valued at $617,451,000. Vanguard Group Inc. increased its position in shares of Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after purchasing an additional 444,503 shares during the last quarter. Norges Bank acquired a new stake in shares of Rayonier in the 4th quarter valued at about $313,806,000. Cohen & Steers Inc. raised its stake in shares of Rayonier by 5.6% in the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after purchasing an additional 717,021 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Rayonier during the second quarter worth about $213,574,000. 89.12% of the stock is owned by institutional investors and hedge funds.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.