Rayonier Inc. (NYSE:RYN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Rayonier Inc. has received a consensus recommendation of "Hold" from four brokerages, with an average price target of $28.00.
• The company reported $0.06 earnings per share for the last quarter, exceeding expectations and indicating a 6.9% increase in revenue year-over-year.
• Rayonier announced a quarterly dividend of $0.2725 per share, yielding 4.1%, scheduled for payment on September 30th.

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have earned a consensus rating of "Hold" from the four ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.00.

Several analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Citigroup upped their price target on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st.

Rayonier Price Performance

NYSE RYN traded down $0.47 on Tuesday, hitting $26.31. 816,283 shares of the company were exchanged, compared to its average volume of 877,302. The firm has a 50 day moving average of $25.10 and a two-hundred day moving average of $24.88. The company has a market cap of $4.06 billion, a P/E ratio of 5.31 and a beta of 1.01. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. Rayonier has a 1-year low of $21.84 and a 1-year high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. On average, equities analysts predict that Rayonier will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. Rayonier's dividend payout ratio is 22.02%.

Hedge Funds Weigh In On Rayonier

A number of large investors have recently bought and sold shares of RYN. Norges Bank acquired a new position in Rayonier during the 2nd quarter worth approximately $304,538,000. Deutsche Bank AG boosted its holdings in shares of Rayonier by 730.8% in the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock valued at $47,748,000 after buying an additional 1,609,232 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rayonier by 1,287.3% in the 1st quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust's stock valued at $41,991,000 after buying an additional 1,397,555 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Rayonier by 30.0% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock valued at $117,195,000 after buying an additional 971,167 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $26,187,000. Institutional investors and hedge funds own 89.12% of the company's stock.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.