Brokerages Set Rayonier Inc. (NYSE:RYN) Price Target at $25.50
by Scott Moore · The Cerbat GemShares of Rayonier Inc. (NYSE:RYN – Get Free Report) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $25.50.
RYN has been the topic of several analyst reports. Truist Financial reduced their price target on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday, January 6th. Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research report on Thursday, April 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research report on Friday, March 27th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Friday, February 13th. Finally, Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th.
Read Our Latest Report on Rayonier
Insider Buying and Selling
In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Eric J. Cremers sold 169,200 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the completion of the sale, the chairman directly owned 709,583 shares in the company, valued at approximately $15,213,459.52. The trade was a 19.25% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by insiders.
Institutional Trading of Rayonier
A number of large investors have recently modified their holdings of RYN. Royal Bank of Canada increased its position in shares of Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock worth $4,436,000 after acquiring an additional 36,344 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Rayonier during the first quarter worth $501,000. United Services Automobile Association purchased a new stake in shares of Rayonier during the first quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Rayonier by 30.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock worth $15,463,000 after acquiring an additional 130,985 shares during the period. Finally, Invesco Ltd. increased its position in shares of Rayonier by 16.9% during the second quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock worth $19,157,000 after acquiring an additional 124,574 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.
Rayonier Stock Up 0.0%
RYN stock opened at $21.31 on Wednesday. The firm has a market cap of $6.44 billion, a PE ratio of 6.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.23 and a current ratio of 3.26. The firm’s 50 day moving average price is $21.18 and its 200-day moving average price is $22.21. Rayonier has a one year low of $19.49 and a one year high of $27.33.
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $117.50 million for the quarter, compared to analyst estimates of $108.71 million. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities research analysts anticipate that Rayonier will post 0.42 EPS for the current year.
Rayonier Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. Rayonier’s payout ratio is presently 34.10%.
Rayonier Company Profile
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.