Rayonier Inc. (NYSE:RYN) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts rate Rayonier “Hold” on average: Five of six analysts recommend holding the stock, while one recommends a strong buy. The average 12-month price target is $23.60, compared with a recent share price of $18.88.
• Rayonier reported solid quarterly results: The REIT matched estimates with earnings of $0.10 per share and exceeded revenue expectations with $396.5 million, up 272.3% year over year.
• The company offers a 5.5% dividend yield: Rayonier pays a quarterly dividend of $0.26 per share, or $1.04 annualized, although its payout ratio is high at 231.11%.

Rayonier Inc. (NYSE:RYN - Get Free Report) has received an average recommendation of "Hold" from the six analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $23.60.

Several research analysts have commented on RYN shares. Truist Financial decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a "hold" rating for the company in a report on Monday. Citigroup dropped their target price on shares of Rayonier from $23.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 21st. Finally, Seaport Research Partners restated a "buy" rating and issued a $30.00 price target on shares of Rayonier in a research report on Thursday, October 8th.

Rayonier Trading Down 0.1%

Shares of NYSE RYN opened at $18.88 on Wednesday. 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 12 month low of $17.71 and a 12 month high of $25.97. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 41.95 and a beta of 0.89. The business has a fifty day simple moving average of $20.16 and a 200-day simple moving average of $20.77.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. Rayonier's revenue was up 272.3% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. Sell-side analysts predict that Rayonier will post 0.42 EPS for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.5%. The ex-dividend date was Wednesday, September 16th. Rayonier's payout ratio is presently 231.11%.

Insiders Place Their Bets

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 6,219 shares of company stock worth $124,088. Insiders own 0.85% of the company's stock.

Institutional Trading of Rayonier

A number of hedge funds have recently modified their holdings of RYN. Bayban purchased a new position in shares of Rayonier during the 1st quarter valued at $36,000. Whittier Trust Co. increased 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 acquiring an additional 969 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Rayonier in the first quarter worth $51,000. Sunbelt Securities Inc. raised its holdings in shares of Rayonier by 124,900.0% during the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 2,498 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC raised 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 worth $53,000 after acquiring an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors 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 from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier's timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.

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