Royal Bank Of Canada Issues Positive Forecast for Rayonier (NYSE:RYN) Stock Price

Key Points

• Royal Bank Of Canada has increased its price target for Rayonier from $26.00 to $27.00, suggesting a potential upswing of 3.85% from the company's previous close.
• Several analysts hold a mixed outlook on Rayonier, with Truist Financial and Citigroup lowering their price targets, while Wall Street Zen upgraded the stock from a "sell" to a "hold" rating.
• Rayonier reported better-than-expected earnings for the last quarter, with $0.06 EPS surpassing analyst expectations of $0.03 and a year-over-year revenue increase of 6.9%.

Rayonier (NYSE:RYN - Get Free Report) had its target price lifted by stock analysts at Royal Bank Of Canada from $26.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target indicates a potential upside of 1.98% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Citigroup cut their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Truist Financial cut their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.75.

Rayonier Trading Up 0.9%

NYSE RYN traded up $0.23 on Friday, reaching $26.48. 83,495 shares of the company were exchanged, compared to its average volume of 1,112,994. The business's fifty day moving average price is $23.53 and its 200 day moving average price is $24.80. The stock has a market capitalization of $4.08 billion, a P/E ratio of 5.34 and a beta of 1.00. 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 fifty-two week low of $21.84 and a fifty-two week high of $32.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RYN. Geode Capital Management LLC increased its holdings in shares of Rayonier by 1.5% in 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 acquiring an additional 39,332 shares during the last quarter. Bank of Montreal Can grew its stake in Rayonier by 5.2% during the 4th quarter. Bank of Montreal Can now owns 25,333 shares of the real estate investment trust's stock worth $661,000 after buying an additional 1,250 shares during the last quarter. Invesco Ltd. grew its stake in Rayonier by 9.4% during the 4th quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock worth $9,669,000 after buying an additional 31,916 shares during the last quarter. Legal & General Group Plc grew its stake in Rayonier by 5.8% during the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after buying an additional 170,087 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Rayonier during the 4th quarter worth approximately $4,281,000. Hedge funds and other institutional investors 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.