Brokerages Set Rayonier Inc. (RYN) Target Price at $30.00
Shares of Rayonier Inc. (NYSE:RYN) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $30.00.
Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price target on shares of Rayonier in a report on Monday, July 31st. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, August 21st. BidaskClub cut shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets cut shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a report on Monday, August 14th.
Rayonier (NYSE RYN) traded up 0.45% during trading on Friday, hitting $29.31. The company’s stock had a trading volume of 440,966 shares. Rayonier has a one year low of $25.24 and a one year high of $29.86. The firm has a market cap of $3.77 billion, a PE ratio of 24.69 and a beta of 0.34. The company has a 50-day moving average of $28.54 and a 200 day moving average of $28.51.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. On average, equities analysts forecast that Rayonier will post $0.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.41%. Rayonier’s payout ratio is currently 84.75%.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock valued at $320,744,000 after purchasing an additional 11,236,902 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of Rayonier by 33.8% in the second quarter. Federated Investors Inc. PA now owns 125,809 shares of the real estate investment trust’s stock valued at $3,619,000 after purchasing an additional 31,782 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Rayonier by 8.7% in the second quarter. Principal Financial Group Inc. now owns 546,619 shares of the real estate investment trust’s stock valued at $15,726,000 after purchasing an additional 43,842 shares during the last quarter. Sei Investments Co. grew its position in shares of Rayonier by 418.0% in the first quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 19,513 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Rayonier in the first quarter valued at approximately $226,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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