Rayonier Inc. (NYSE:RYN - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $22.70 and last traded at $22.67, with a volume of 179765 shares changing hands. The stock had previously closed at $22.93.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Citigroup lowered their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Truist Financial lowered their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Wednesday, March 12th. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Rayonier presently has an average rating of "Hold" and a consensus price target of $27.75.
Get Our Latest Analysis on Rayonier
Rayonier Stock Down 0.3%
The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.51 billion, a P/E ratio of 9.67 and a beta of 1.05. The firm has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $25.72.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 3.29% and a net margin of 30.09%. The company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm's revenue for the quarter was down 27.1% on a year-over-year basis. Equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, June 16th. Rayonier's payout ratio is currently 46.78%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC increased its position in shares of Rayonier by 2.8% in the first quarter. Voya Investment Management LLC now owns 19,266 shares of the real estate investment trust's stock worth $537,000 after purchasing an additional 521 shares during the period. Lynx Investment Advisory acquired a new stake in Rayonier in the first quarter valued at about $211,000. Strs Ohio acquired a new stake in Rayonier in the first quarter valued at about $1,364,000. Foresight Group Ltd Liability Partnership boosted its stake in Rayonier by 4.5% in the first quarter. Foresight Group Ltd Liability Partnership now owns 27,696 shares of the real estate investment trust's stock valued at $771,000 after buying an additional 1,186 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in Rayonier in the first quarter valued at about $11,913,000. Institutional investors own 89.12% of the company's stock.
About Rayonier
(
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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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