Truist Financial Cuts Rayonier (NYSE:RYN) Price Target to $27.00

Rayonier (NYSE:RYN - Get Free Report) had its target price cut by equities researchers at Truist Financial from $30.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price objective suggests a potential upside of 10.34% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. StockNews.com upgraded shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Citigroup dropped their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Finally, Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $28.25.

Rayonier Stock Down 1.2 %

NYSE RYN traded down $0.30 on Tuesday, hitting $24.47. 708,137 shares of the stock were exchanged, compared to its average volume of 796,542. Rayonier has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The company has a 50-day moving average price of $26.29 and a 200-day moving average price of $27.82. The company has a market cap of $3.82 billion, a PE ratio of 10.37 and a beta of 0.97. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Sell-side analysts anticipate that Rayonier will post 0.55 EPS for the current fiscal year.

Institutional Trading of Rayonier

A number of hedge funds have recently added to or reduced their stakes in RYN. Wilmington Savings Fund Society FSB purchased a new position in Rayonier during the 3rd quarter worth $351,000. GAMMA Investing LLC raised its holdings in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 511 shares in the last quarter. Nordea Investment Management AB lifted its position in Rayonier by 6.6% in the fourth quarter. Nordea Investment Management AB now owns 195,369 shares of the real estate investment trust's stock valued at $5,087,000 after purchasing an additional 12,028 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 857 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Rayonier during the 4th quarter worth approximately $467,000. 89.12% of the stock is owned by institutional investors and hedge funds.

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.