Rayonier (NYSE:RYN) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• Rayonier (NYSE:RYN) received a "Hold (C)" rating from Weiss Ratings, reaffirming mixed sentiments among analysts, with one analyst rating the stock as a Buy and four giving it a Hold rating.
• Rayonier's stock price dropped to $24.30, with a year range between $21.84 and $32.88, while the average target price is set at $28.00.
• The company reported a quarterly earnings per share (EPS) of $0.06, exceeding estimates and showing a revenue increase of 6.9% year-over-year, with projected EPS of 0.55 for the current fiscal year.

Rayonier (NYSE:RYN - Get Free Report)'s stock had its "hold (c)" rating reissued by investment analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup lifted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, Royal Bank Of Canada lifted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Rayonier presently has an average rating of "Hold" and an average target price of $28.00.

Rayonier Stock Performance

Shares of RYN traded down $1.60 during midday trading on Tuesday, hitting $24.30. 2,594,110 shares of the stock traded hands, compared to its average volume of 1,091,442. Rayonier has a 1-year low of $21.84 and a 1-year high of $32.88. The firm has a market capitalization of $3.75 billion, a PE ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The business's 50 day moving average price is $26.20 and its two-hundred day moving average price is $24.68.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that Rayonier will post 0.55 EPS for the current fiscal year.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC lifted its stake in Rayonier by 2.2% in the 1st quarter. Yousif Capital Management LLC now owns 48,457 shares of the real estate investment trust's stock worth $1,351,000 after acquiring an additional 1,031 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rayonier by 54.6% in the 1st quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 947 shares during the period. Fifth Third Bancorp increased its holdings in shares of Rayonier by 182.4% in the 1st quarter. Fifth Third Bancorp now owns 2,753 shares of the real estate investment trust's stock valued at $77,000 after purchasing an additional 1,778 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Rayonier during the first quarter valued at approximately $1,017,000. Finally, Exchange Traded Concepts LLC purchased a new position in Rayonier during the first quarter valued at approximately $821,000. Institutional investors and hedge funds own 89.12% of the company's stock.

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.

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