Analysts Set Rayonier Inc. (NYSE:RYN) Price Target at $27.75

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have been given an average recommendation of "Hold" by the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $27.75.

Several equities analysts recently issued reports on RYN shares. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Citigroup decreased their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Truist Financial lowered their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd.

Hedge Funds Weigh In On Rayonier

Several large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new stake in shares of Rayonier in the 4th quarter valued at about $648,000. Raymond James Financial Inc. purchased a new stake in Rayonier in the fourth quarter valued at approximately $1,455,000. HighTower Advisors LLC boosted its holdings in shares of Rayonier by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock valued at $1,738,000 after acquiring an additional 2,168 shares during the period. Swiss National Bank increased its holdings in shares of Rayonier by 5.9% in the 4th quarter. Swiss National Bank now owns 292,382 shares of the real estate investment trust's stock valued at $7,631,000 after acquiring an additional 16,282 shares during the period. Finally, Xponance Inc. raised its position in Rayonier by 18.5% in the 4th quarter. Xponance Inc. now owns 17,732 shares of the real estate investment trust's stock valued at $463,000 after purchasing an additional 2,773 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Trading Down 1.1%

NYSE:RYN traded down $0.28 on Monday, reaching $23.87. The company's stock had a trading volume of 709,943 shares, compared to its average volume of 1,185,320. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 10.24 and a beta of 1.02. The company has a quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54. Rayonier has a 12-month low of $21.84 and a 12-month high of $32.88. The stock has a 50 day moving average price of $23.32 and a 200 day moving average price of $24.95.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The company had revenue of $82.90 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.01 earnings per share. On average, equities analysts anticipate that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid 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 4.57%. Rayonier's dividend payout ratio is currently 46.78%.

Rayonier Company Profile

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.