Rayonier Inc. (NYSE:RYN) Given Consensus Rating of "Hold" by Analysts

Shares of Rayonier Inc. (NYSE:RYN - Get Free Report) have received a consensus rating of "Hold" from the two ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $33.00.

A number of research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research report on Tuesday. StockNews.com raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th.

Rayonier Trading Down 0.7 %

Shares of RYN traded down $0.24 during mid-day trading on Thursday, reaching $32.09. The company's stock had a trading volume of 1,284,997 shares, compared to its average volume of 604,572. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The company's fifty day moving average price is $30.98 and its two-hundred day moving average price is $30.30. The stock has a market cap of $4.78 billion, a PE ratio of 28.65 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analysts' expectations of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm's revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, analysts predict that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, September 16th. Rayonier's dividend payout ratio is currently 101.79%.

Insider Activity

In other news, Director V. Larkin Martin sold 10,011 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now owns 40,168 shares of the company's stock, valued at $1,227,935.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company's stock.

Institutional Investors Weigh In On Rayonier

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in Rayonier in the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Rayonier in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 376 shares in the last quarter. Quest Partners LLC purchased a new stake in Rayonier in the 2nd quarter worth approximately $40,000. Finally, Fifth Third Bancorp increased its holdings in Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 660 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other 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.