Rayonier (NYSE:RYN) Given New $22.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its Rayonier price target from $20 to $22 but maintained a “sector perform” rating; the new target implies 2.35% upside from the prior close.
• Analyst views are mixed, with MarketBeat reporting an overall “Hold” rating and an average price target of $23.20. Ratings range from one Strong Buy to one Sell, with four Holds.
• Rayonier reported quarterly EPS of $0.13, beating the $0.10 consensus, while revenue rose 218.6% year over year to $565.6 million. Shares traded at $21.50 on Friday.

Rayonier (NYSE:RYN - Get Free Report) had its price target upped by investment analysts at Royal Bank Of Canada from $20.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 2.35% from the company's previous close.

A number of other equities research analysts have also weighed in on RYN. Weiss Ratings lowered shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Seaport Research Partners reaffirmed a "buy" rating and set a $30.00 target price on shares of Rayonier in a report on Thursday, October 8th. Citigroup reduced their target price on shares of Rayonier from $23.00 to $19.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Finally, Truist Financial decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a "hold" rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rayonier presently has an average rating of "Hold" and an average price target of $23.20.

Rayonier Price Performance

NYSE RYN traded down $0.41 during trading on Friday, reaching $21.50. The company's stock had a trading volume of 1,729,893 shares, compared to its average volume of 3,065,702. The firm has a fifty day moving average of $19.45 and a 200 day moving average of $20.91. Rayonier has a one year low of $17.71 and a one year high of $24.82. The stock has a market capitalization of $6.40 billion, a PE ratio of 36.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $565.60 million during the quarter, compared to the consensus estimate of $406.98 million. Rayonier had a net margin of 11.49% and a return on equity of 2.85%. The firm's revenue was up 218.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Analysts expect that Rayonier will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark Bridwell sold 5,318 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the sale, the executive vice president owned 131,661 shares of the company's stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 6,219 shares of company stock worth $124,088. Corporate insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in Rayonier during the 3rd quarter valued at about $26,000. Whittier Trust Co. lifted its stake in shares of Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock worth $47,000 after buying an additional 969 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Rayonier by 124,900.0% in the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust's stock worth $52,000 after buying an additional 2,498 shares in the last quarter. Basecamp Wealth Advisors LLC grew its holdings in shares of Rayonier by 109.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 2,571 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 1,344 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Rayonier by 810.5% during the first quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 2,383 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

About Rayonier

Rayonier Inc NYSE: RYN is a real estate investment trust that owns and manages timberlands and other rural land assets. The company's primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier's timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.

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