Rayonier (NYSE:RYN) Price Target Cut to $25.00 by Analysts at Citigroup

Rayonier (NYSE:RYN - Get Free Report) had its price target reduced by investment analysts at Citigroup from $32.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Citigroup's price objective indicates a potential downside of 3.03% from the company's current price.

Several other brokerages also recently commented on RYN. StockNews.com raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Truist Financial reduced their price target on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Rayonier presently has a consensus rating of "Hold" and an average target price of $29.67.

Rayonier Trading Down 0.3 %

RYN stock traded down $0.08 during midday trading on Wednesday, hitting $25.78. The stock had a trading volume of 1,410,414 shares, compared to its average volume of 908,035. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.84 billion, a P/E ratio of 24.32 and a beta of 1.04. The business has a fifty day moving average price of $28.80 and a two-hundred day moving average price of $29.91. Rayonier has a 1-year low of $24.88 and a 1-year high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier announced that its board has initiated a stock repurchase plan on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Rayonier during the third quarter worth about $25,000. Venturi Wealth Management LLC boosted its stake in Rayonier by 165.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 672 shares during the last quarter. Quest Partners LLC bought a new stake in Rayonier during the 2nd quarter worth approximately $40,000. Blue Trust Inc. raised its stake in shares of Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 1,042 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. 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.