Citigroup Lowers Rayonier (NYSE:RYN) Price Target to $26.00

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

Other research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a report on Wednesday, March 12th. Truist Financial dropped their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their target price 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Rayonier currently has an average rating of "Hold" and an average target price of $27.75.

Rayonier Stock Performance

Shares of NYSE RYN traded up $0.16 during mid-day trading on Tuesday, hitting $23.48. The company had a trading volume of 939,646 shares, compared to its average volume of 868,669. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier has a 1 year low of $22.80 and a 1 year high of $31.29. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.95 and a beta of 1.07. The stock's 50-day moving average price is $24.43 and its 200-day moving average price is $26.40.

Rayonier (NYSE:RYN - Get Free Report) last posted its 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). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. During the same period in the previous year, the firm earned $0.01 EPS. The firm's quarterly revenue was down 27.1% compared to the same quarter last year. On average, sell-side analysts forecast that Rayonier will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio is currently 46.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in Rayonier during the 4th quarter worth approximately $25,000. American National Bank & Trust purchased a new stake in shares of Rayonier during the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in shares of Rayonier during the first quarter valued at approximately $30,000. Parallel Advisors LLC grew its holdings 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 worth $31,000 after purchasing an additional 642 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Rayonier in the first quarter worth $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.