Rayonier (NYSE:RYN) Price Target Cut to $25.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets cut Rayonier’s price target to $25 from $26 while keeping a market perform rating. The new target still implies roughly 25.8% upside from the previous close.
• Rayonier’s latest quarter showed EPS of $0.07, slightly ahead of estimates, but revenue of $276.79 million came in below expectations. Revenue was still up sharply year over year.
• Analyst sentiment remains cautious overall, with the stock carrying an average Hold rating and a consensus price target of $24.80. The shares were last around $19.87, near the low end of their 52-week range.

Rayonier (NYSE:RYN - Get Free Report) had its price objective dropped by stock analysts at BMO Capital Markets from $26.00 to $25.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the real estate investment trust's stock. BMO Capital Markets' target price would indicate a potential upside of 25.84% from the company's previous close.

A number of other research firms have also recently weighed in on RYN. Citigroup decreased their price target on Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Weiss Ratings cut Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. Truist Financial upped their price target on Rayonier from $24.00 to $25.00 and gave the stock a "hold" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada set a $24.00 price target on Rayonier in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $24.80.

Rayonier Stock Up 0.2%

Shares of NYSE:RYN opened at $19.87 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier has a 1 year low of $19.49 and a 1 year high of $27.33. The stock has a market capitalization of $5.97 billion, a P/E ratio of 6.58 and a beta of 0.90. The stock has a 50-day simple moving average of $20.73 and a 200-day simple moving average of $21.77.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to analysts' expectations of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company's revenue for the quarter was up 233.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. Equities analysts forecast that Rayonier will post 0.36 earnings per share for the current year.

Insider Activity at Rayonier

In related news, CFO Wayne Wasechek sold 2,920 shares of the company's stock in a transaction that occurred 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 directly owned 115,530 shares of the company's stock, valued at approximately $2,445,770.10. This represents a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 company's stock in a transaction that occurred 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 approximately $15,213,459.52. This represents a 19.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Rayonier

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of Rayonier by 104.0% during the 1st quarter. Janus Henderson Group PLC now owns 133,727 shares of the real estate investment trust's stock valued at $2,759,000 after acquiring an additional 68,166 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Rayonier by 124,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 2,498 shares in the last quarter. Parvin Asset Management LLC raised its position in shares of Rayonier by 28.6% during the 1st quarter. Parvin Asset Management LLC now owns 52,813 shares of the real estate investment trust's stock valued at $1,089,000 after acquiring an additional 11,738 shares in the last quarter. Adelante Capital Management LLC acquired a new stake in shares of Rayonier during the 1st quarter valued at approximately $1,627,000. Finally, California State Teachers Retirement System raised its position in shares of Rayonier by 124.2% during the 1st quarter. California State Teachers Retirement System now owns 337,049 shares of the real estate investment trust's stock valued at $6,950,000 after acquiring an additional 186,683 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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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