Rayonier Inc. (NYSE:RYN) Given Average Rating of "Hold" by Brokerages

Key Points

• Rayonier has a consensus “Hold” rating from six analysts, with five holds and one strong buy. The average 12-month price target is $24.80, compared with the stock’s reported price of $20.18.
• The company’s latest quarterly results met EPS expectations at $0.10 and exceeded revenue estimates with $396.51 million, while revenue rose 272.3% year over year.
• Rayonier declared a quarterly dividend of $0.26 per share, equating to a 5.2% annualized yield, though its payout ratio is high at 231.11%.

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have earned a consensus rating of "Hold" from the six research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.80.

Several brokerages have issued reports on RYN. Weiss Ratings raised shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 21st. Truist Financial dropped their price objective on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Wednesday, July 15th. Finally, Citigroup lifted their price objective on Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th.

Rayonier Trading Up 0.9%

NYSE:RYN opened at $20.18 on Friday. The company has a market capitalization of $6.00 billion, a PE ratio of 44.83 and a beta of 0.87. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. Rayonier has a 52-week low of $19.49 and a 52-week high of $27.06. The stock has a fifty day simple moving average of $21.14 and a 200-day simple moving average of $21.00.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm had revenue of $396.51 million for the quarter, compared to analysts' expectations of $374.28 million. During the same period in the prior year, the company earned $0.06 EPS. The firm's revenue was up 272.3% on a year-over-year basis. On average, equities research analysts expect that Rayonier will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 5.2%. Rayonier's dividend payout ratio (DPR) is presently 231.11%.

Insider Buying and Selling at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of the business'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 transaction, the executive vice president directly owned 131,661 shares of the company's stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Rayonier during the 2nd quarter worth about $617,451,000. Norges Bank acquired a new position in shares of Rayonier in the fourth quarter valued at approximately $313,806,000. Legal & General Group Plc acquired a new position in shares of Rayonier in the second quarter valued at approximately $213,574,000. Deprince Race & Zollo Inc. purchased a new position in shares of Rayonier during the first quarter valued at approximately $85,771,000. Finally, Atlas FRM LLC purchased a new position in shares of Rayonier during the second quarter valued at approximately $83,843,200. Institutional investors and hedge funds own 89.12% of the company's stock.

About Rayonier

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.

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