Rayonier Inc. (NYSE:RYN) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Rayonier received an average analyst rating of "Hold" from five covering analysts, with a consensus 12-month price target of $24.75.
• The company reported Q1 EPS of $0.07, topping estimates, though revenue of $276.79 million came in slightly below expectations.
• Rayonier’s stock was trading at $19.82, near its 52-week low, and the company recently paid a $0.26 quarterly dividend yielding about 5.2%.

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have received an average rating of "Hold" from the five analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given 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 a report on the stock in the last year is $24.75.

Several brokerages have issued reports on RYN. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. Weiss Ratings cut Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday. Citigroup dropped their target price on Rayonier from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday. Truist Financial increased their target price on Rayonier from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Monday, May 11th. Finally, Raymond James Financial raised Rayonier from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $26.00 to $28.00 in a research report on Friday, February 13th.

Rayonier Stock Down 2.0%

Shares of NYSE:RYN opened at $19.82 on Friday. Rayonier has a 52-week low of $19.49 and a 52-week high of $27.33. The stock has a market cap of $5.96 billion, a P/E ratio of 6.56 and a beta of 0.90. The business's 50 day moving average is $20.77 and its 200 day moving average is $21.80. The company has a quick ratio of 3.23, a current ratio of 2.53 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company had revenue of $276.79 million for the quarter, compared to analysts' expectations of $280.92 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Rayonier's revenue was up 233.9% compared to the same quarter last year. Sell-side analysts predict that Rayonier will post 0.36 EPS for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, March 17th. Rayonier's dividend payout ratio (DPR) is 34.44%.

Insider Buying and Selling at Rayonier

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the sale, the chief financial officer owned 115,530 shares of the company's stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Eric J. Cremers sold 169,200 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the sale, the chairman directly owned 709,583 shares in the company, valued at $15,213,459.52. This trade represents a 19.25% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Rayonier

A number of institutional investors have recently made changes to their positions in RYN. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier in the 4th quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rayonier by 65.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 627 shares in the last quarter. Bayban acquired a new stake in shares of Rayonier in the 1st quarter worth $36,000. Hartford Financial Management Inc. boosted its position in shares of Rayonier by 49.7% in the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 575 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 969 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Company Profile

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

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