Rayonier Inc. (NYSE:RYN) Receives $27.75 Average Price Target from Analysts

Key Points

• Analysts have set an average price target of $27.75 for Rayonier Inc. (NYSE: RYN), with a consensus rating of "Hold" from four firms.
• Rayonier's recent quarterly earnings reported $0.06 EPS, surpassing expectations of $0.03, alongside revenue of $106.5 million.
• The company announced a quarterly dividend of $0.2725 per share, which reflects a 4.1% annualized yield and a payout ratio of 22.02%.

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have been assigned an average rating of "Hold" from the four ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 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 research reports. Citigroup cut their target price on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Truist Financial cut 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.

Rayonier Price Performance

Rayonier stock traded up $0.2950 during trading hours on Friday, reaching $26.4450. 159,616 shares of the stock were exchanged, compared to its average volume of 1,108,571. The company has a market cap of $4.08 billion, a P/E ratio of 5.34 and a beta of 1.00. 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 twelve month low of $21.84 and a twelve month high of $32.88. The stock has a 50 day moving average of $23.77 and a two-hundred day moving average of $24.79.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. During the same period last year, the company posted $0.02 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

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 issued a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.1%. Rayonier's dividend payout ratio (DPR) is presently 22.02%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in Rayonier by 213.7% during the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 829 shares during the last quarter. American National Bank & Trust bought a new position in Rayonier during the 1st quarter worth approximately $28,000. Elequin Capital LP bought a new position in Rayonier during the 1st quarter worth approximately $30,000. Parallel Advisors LLC increased its stake in shares of Rayonier by 133.5% in the 1st 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. bought a new stake in shares of Rayonier in the 1st quarter valued at $32,000. Institutional investors 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.