Brokerages Set Rayonier Inc. (NYSE:RYN) PT at $27.75

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the four research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.75.

RYN has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Citigroup lowered their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Raymond James Financial raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. Finally, Truist Financial reduced their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Rayonier in the fourth quarter valued at approximately $25,000. American National Bank & Trust acquired a new stake in Rayonier in the first quarter valued at $28,000. Elequin Capital LP acquired a new position in shares of Rayonier during the 1st quarter worth $30,000. Parallel Advisors LLC lifted its position in shares of Rayonier by 133.5% in the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 642 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier during the first quarter worth $32,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

NYSE:RYN traded down $0.54 during mid-day trading on Thursday, reaching $22.14. The stock had a trading volume of 2,450,092 shares, compared to its average volume of 900,512. The stock has a 50-day simple moving average of $23.63 and a two-hundred day simple moving average of $25.48. The stock has a market capitalization of $3.45 billion, a PE ratio of 9.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. Rayonier has a 12 month low of $22.07 and a 12 month high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). The business had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. Rayonier's revenue was down 27.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, equities analysts anticipate that Rayonier will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.2725 per share. The ex-dividend date is Monday, June 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.92%. Rayonier's dividend payout ratio (DPR) is presently 46.78%.

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.