Truist Financial Raises Rayonier (NYSE:RYN) Price Target to $25.00

Key Points

• Truist Financial raised Rayonier’s price target from $24 to $25 while keeping a hold rating, implying about 21.9% upside from the current share price.
• Rayonier shares were up 0.5% to $20.52 in Monday trading, and the stock remains below its 1-year high of $27.33. MarketBeat says the consensus analyst rating is also Hold, with an average price target of $25.25.
• The company recently posted better-than-expected EPS of $0.07 versus $0.06 estimated, though revenue of $276.8 million came in slightly below forecasts. Meanwhile, several insiders sold shares and institutional investors have been increasing stakes.

Rayonier (NYSE:RYN - Get Free Report) had its target price hoisted by analysts at Truist Financial from $24.00 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price points to a potential upside of 21.86% from the stock's current price.

Several other equities analysts have also issued reports on the company. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research report on Thursday, April 16th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Rayonier in a research report on Friday, March 27th. Raymond James Financial upgraded Rayonier from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $26.00 to $28.00 in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.25.

Rayonier Trading Up 0.5%

Shares of Rayonier stock traded up $0.10 during trading on Monday, hitting $20.52. 433,904 shares of the company were exchanged, compared to its average volume of 2,916,152. The firm has a market capitalization of $6.20 billion, a P/E ratio of 6.79 and a beta of 0.90. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The firm's fifty day moving average price is $20.95 and its 200 day moving average price is $21.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.26 and a quick ratio of 3.23.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company had revenue of $276.80 million during the quarter, compared to analyst estimates of $280.92 million. During the same period in the previous year, the company earned ($0.02) EPS. The company's revenue for the quarter was up 233.9% compared to the same quarter last year. As a group, sell-side analysts expect that Rayonier will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Eric J. Cremers sold 169,200 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $21.44, for a total value of $3,627,648.00. Following the sale, the chairman owned 709,583 shares in the company, valued at approximately $15,213,459.52. This represents a 19.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares in the company, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rayonier

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in Rayonier by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 38,057 shares of the real estate investment trust's stock valued at $785,000 after acquiring an additional 13,338 shares during the period. Dimensional Fund Advisors LP raised its stake in Rayonier by 514.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 192,593 shares of the real estate investment trust's stock valued at $3,971,000 after acquiring an additional 161,228 shares during the period. Parallel Advisors LLC raised its stake in Rayonier by 810.5% in the 1st quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 2,383 shares during the period. KBC Group NV raised its stake in Rayonier by 169.5% in the 1st quarter. KBC Group NV now owns 11,812 shares of the real estate investment trust's stock valued at $244,000 after acquiring an additional 7,429 shares during the period. Finally, Swiss National Bank raised its stake in Rayonier by 87.6% in the 1st quarter. Swiss National Bank now owns 567,778 shares of the real estate investment trust's stock valued at $11,708,000 after acquiring an additional 265,144 shares during the period. Institutional investors own 89.12% of the company's stock.

Rayonier Company Profile

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.