Rayonier (NYSE:RYN) Upgraded to "Hold" at Wall Street Zen

Key Points

• Rayonier has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a potentially more stable outlook for the company.
• Despite recent upgrades, Citigroup has lowered its target price for Rayonier from $27.00 to $26.00, maintaining a "neutral" rating, while Royal Bank of Canada raised its target from $26.00 to $27.00.
• Rayonier reported a quarterly earnings per share (EPS) of $0.06, exceeding estimates and showing a 6.9% revenue growth compared to the previous year.

Wall Street Zen upgraded shares of Rayonier (NYSE:RYN - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

RYN has been the subject of a number of other research reports. Citigroup lowered their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Truist Financial dropped their target price 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. Finally, Royal Bank Of Canada upped their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Rayonier presently has an average rating of "Hold" and an average price target of $27.75.

Rayonier Trading Up 0.8%

RYN stock traded up $0.21 during midday trading on Friday, hitting $26.46. The company had a trading volume of 202,408 shares, compared to its average volume of 1,113,895. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.37. Rayonier has a 52 week low of $21.84 and a 52 week high of $32.88. The stock's 50 day moving average price is $23.53 and its 200 day moving average price is $24.80. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 5.34 and a beta of 1.00.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to analysts' expectations of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts expect that Rayonier 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 Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.2725 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. Rayonier's dividend payout ratio (DPR) is currently 22.02%.

Institutional Trading of Rayonier

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Rayonier by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after purchasing an additional 39,332 shares in the last quarter. Bank of Montreal Can increased its position in shares of Rayonier by 5.2% during the fourth quarter. Bank of Montreal Can now owns 25,333 shares of the real estate investment trust's stock worth $661,000 after purchasing an additional 1,250 shares in the last quarter. Invesco Ltd. increased its position in shares of Rayonier by 9.4% during the fourth quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock worth $9,669,000 after purchasing an additional 31,916 shares in the last quarter. Legal & General Group Plc increased its position in shares of Rayonier by 5.8% during the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after purchasing an additional 170,087 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Rayonier during the fourth quarter worth $4,281,000. 89.12% of the stock is currently owned by institutional investors.

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.