Rayonier (NYSE:RYN) Rating Increased to Hold at StockNews.com

Rayonier (NYSE:RYN - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday.

RYN has been the topic of a number of other research reports. Raymond James raised 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 cut their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada reduced their price target on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, Citigroup lowered their price objective on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Rayonier presently has a consensus rating of "Hold" and an average price target of $27.50.

Rayonier Price Performance

NYSE:RYN traded up $0.17 during trading hours on Tuesday, reaching $24.18. 855,356 shares of the company's stock were exchanged, compared to its average volume of 844,087. The company has a market capitalization of $3.77 billion, a P/E ratio of 10.25 and a beta of 1.07. Rayonier has a 12 month low of $22.80 and a 12 month high of $31.29. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $25.51 and its two-hundred day simple moving average is $27.08.

Rayonier (NYSE:RYN - Get Free Report) last announced 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). The company had revenue of $82.90 million for the quarter, compared to analyst estimates of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Rayonier's revenue was down 27.1% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. Sell-side analysts expect that Rayonier will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Rayonier during the 4th quarter valued at $25,000. American National Bank & Trust purchased a new position in Rayonier in the first quarter valued at about $28,000. Elequin Capital LP acquired a new position in Rayonier in the 1st quarter worth about $30,000. Parallel Advisors LLC increased its position in Rayonier by 133.5% in the 1st 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 stake in shares of Rayonier during the 1st quarter worth about $32,000. Institutional investors and hedge funds 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.