Rayonier (RYN) Research Coverage Started at Citigroup
Citigroup started coverage on shares of Rayonier (NYSE:RYN) in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $37.00 target price on the real estate investment trust’s stock.
Several other equities research analysts also recently weighed in on RYN. Zacks Investment Research downgraded shares of Rayonier from a buy rating to a hold rating in a research note on Thursday, February 15th. BMO Capital Markets reaffirmed a hold rating and issued a $31.00 price target on shares of Rayonier in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $30.00 price target on shares of Rayonier in a research note on Friday, January 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $34.25.
Shares of Rayonier (RYN) opened at $34.20 on Thursday. Rayonier has a 52 week low of $26.84 and a 52 week high of $34.82. The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4,414.68, a price-to-earnings ratio of 53.44, a price-to-earnings-growth ratio of 10.48 and a beta of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, March 15th. Rayonier’s dividend payout ratio is currently 86.21%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Rayonier during the fourth quarter valued at about $168,000. Advisor Group Inc. grew its holdings in shares of Rayonier by 73.0% during the fourth quarter. Advisor Group Inc. now owns 6,618 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 2,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Rayonier by 46.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 2,229 shares during the last quarter. Gamble Jones Investment Counsel acquired a new position in shares of Rayonier during the fourth quarter valued at about $237,000. Finally, Timber Hill LLC acquired a new position in shares of Rayonier during the third quarter valued at about $246,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Rayonier (RYN) Research Coverage Started at Citigroup” was originally reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/rayonier-ryn-research-coverage-started-at-citigroup/1909546.html.
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.
Receive News & Ratings for Rayonier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier and related companies with MarketBeat.com's FREE daily email newsletter.