Rayonier (NYSE:RYN) Issues Earnings Results, Beats Estimates By $0.08 EPS

Rayonier (NYSE:RYN) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08, FiscalAI reports. Rayonier had a return on equity of 4.74% and a net margin of 70.95%.The company had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million.

Rayonier Trading Down 0.3%

NYSE RYN traded down $0.08 on Wednesday, hitting $22.36. 3,310,302 shares of the company were exchanged, compared to its average volume of 3,104,469. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.44 and a quick ratio of 3.39. Rayonier has a twelve month low of $21.06 and a twelve month high of $28.31. The firm has a market capitalization of $3.61 billion, a P/E ratio of 4.44 and a beta of 0.98. The company’s 50 day moving average price is $22.50 and its 200-day moving average price is $23.89.

Institutional Investors Weigh In On Rayonier

Several hedge funds have recently made changes to their positions in RYN. Northwestern Mutual Wealth Management Co. grew its position in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Rayonier by 22.5% in the third quarter. NewEdge Advisors LLC now owns 4,156 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 764 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Rayonier by 10.7% during the second quarter. Osaic Holdings Inc. now owns 8,331 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 804 shares in the last quarter. Bank of America Corp DE raised its position in Rayonier by 0.3% during the third quarter. Bank of America Corp DE now owns 353,325 shares of the real estate investment trust’s stock valued at $9,377,000 after buying an additional 913 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Rayonier by 77.9% in the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research report on Monday, December 29th. Truist Financial lowered their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, January 6th. Citigroup cut their target price on Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $25.00 price target on shares of Rayonier in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and an average target price of $26.50.

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.