Brokerages Set Rayonier Inc. (NYSE:RYN) Target Price at $26.50

by · The Cerbat Gem

Rayonier Inc. (NYSE:RYN – Get Free Report) has received an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $26.50.

RYN has been the subject of a number of research reports. Citigroup reduced their price target on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Royal Bank Of Canada reissued a “sector perform” rating and set a $25.00 price objective on shares of Rayonier in a research report on Thursday, December 18th. Truist Financial decreased their target price on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th.

View Our Latest Research Report on RYN

Rayonier Trading Up 0.0%

NYSE RYN opened at $22.41 on Friday. The stock has a market capitalization of $3.62 billion, a P/E ratio of 4.45 and a beta of 0.98. The business has a 50 day simple moving average of $22.50 and a 200 day simple moving average of $23.89. 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 one year low of $21.06 and a one year high of $28.31.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Rayonier by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,217,198 shares of the real estate investment trust’s stock valued at $26,352,000 after acquiring an additional 179,168 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Rayonier by 162.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 594,380 shares of the real estate investment trust’s stock valued at $12,868,000 after purchasing an additional 367,571 shares in the last quarter. Central Securities Corp boosted its position in shares of Rayonier by 4.9% during the fourth quarter. Central Securities Corp now owns 1,260,130 shares of the real estate investment trust’s stock valued at $27,282,000 after buying an additional 58,656 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Rayonier by 4.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 33,082 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 1,450 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rayonier by 2.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,158 shares of the real estate investment trust’s stock valued at $804,000 after buying an additional 758 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier

(Get Free Report)

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.

See Also