Citigroup Issues Pessimistic Forecast for Rayonier (NYSE:RYN) Stock Price

Rayonier (NYSE:RYN - Free Report) had its price objective lowered by Citigroup from $27.00 to $26.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust's stock.

A number of other research analysts also recently issued reports on RYN. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Wednesday, March 12th. Truist Financial dropped their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their price objective on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.75.

Rayonier Stock Up 0.1%

Shares of RYN traded up $0.02 during mid-day trading on Tuesday, reaching $23.45. The company's stock had a trading volume of 609,981 shares, compared to its average volume of 870,222. Rayonier has a 12-month low of $22.80 and a 12-month high of $31.29. The stock has a market cap of $3.65 billion, a PE ratio of 9.93 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The company's 50 day moving average is $24.16 and its 200 day moving average is $26.28.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. During the same quarter in the previous year, the company posted $0.01 EPS. The company's revenue was down 27.1% compared to the same quarter last year. Equities analysts anticipate that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.65%. Rayonier's payout ratio is 46.78%.

Institutional Trading of Rayonier

Hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in Rayonier during the 4th quarter worth approximately $25,000. American National Bank & Trust acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $28,000. Elequin Capital LP acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $30,000. Parallel Advisors LLC lifted its holdings 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 buying an additional 642 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $32,000. 89.12% of the stock is owned by institutional investors and hedge funds.

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.