Rayonier (NYSE:RYN) Price Target Lowered to $30.00 at Royal Bank of Canada

Rayonier (NYSE:RYN - Get Free Report) had its price objective decreased by investment analysts at Royal Bank of Canada from $33.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank of Canada's price objective indicates a potential upside of 17.62% from the company's previous close.

Other analysts have also recently issued research reports about the company. Truist Financial reduced their price objective on Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, January 6th. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Finally, Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.33.

Rayonier Price Performance

Shares of NYSE RYN traded down $0.19 during mid-day trading on Friday, reaching $25.51. The company had a trading volume of 4,406,233 shares, compared to its average volume of 1,011,260. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.80 billion, a PE ratio of 10.81 and a beta of 1.03. The company has a 50-day moving average price of $27.04 and a two-hundred day moving average price of $29.58. Rayonier has a 1-year low of $24.88 and a 1-year high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Rayonier will post 0.58 earnings per share for the current year.

Rayonier declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Rayonier

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in Rayonier during the third quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd acquired a new stake in Rayonier during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its holdings in Rayonier by 165.1% during the third 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 in the last quarter. UMB Bank n.a. boosted its holdings in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 525 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 1,042 shares in the last quarter. 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.