Raymond James set a $32.00 price objective on Rayonier (NYSE:RYN) in a research report report published on Tuesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Separately, ValuEngine lowered Rayonier from a buy rating to a hold rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $34.50.

RYN stock traded down $0.16 during mid-day trading on Tuesday, reaching $29.07. 12,634 shares of the company traded hands, compared to its average volume of 653,958. The company has a quick ratio of 2.54, a current ratio of 2.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.72 billion, a PE ratio of 44.55, a PEG ratio of 8.79 and a beta of 0.61. Rayonier has a 52-week low of $26.30 and a 52-week high of $39.73.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.12. The business had revenue of $200.90 million during the quarter, compared to analyst estimates of $179.87 million. Rayonier had a return on equity of 7.34% and a net margin of 18.48%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, equities research analysts anticipate that Rayonier will post 0.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, December 14th. Rayonier’s payout ratio is 166.15%.

Institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd purchased a new stake in Rayonier in the second quarter worth approximately $108,000. Ancora Advisors LLC purchased a new stake in Rayonier in the third quarter worth approximately $106,000. Belpointe Asset Management LLC purchased a new stake in Rayonier in the third quarter worth approximately $152,000. Royal London Asset Management Ltd. purchased a new stake in Rayonier in the second quarter worth approximately $228,000. Finally, Capital Fund Management S.A. purchased a new stake in Rayonier in the third quarter worth approximately $211,000. 84.54% of the stock is owned by institutional investors and hedge funds.

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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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