Rayonier (NYSE:RYN) Price Target Cut to $30.00 by Analysts at Truist Financial

Rayonier (NYSE:RYN - Free Report) had its price target decreased by Truist Financial from $32.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust's stock.

Separately, StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th.

Rayonier Stock Performance

Shares of NYSE:RYN traded up $0.09 during trading on Monday, reaching $26.43. 441,004 shares of the stock were exchanged, compared to its average volume of 475,101. Rayonier has a 12 month low of $25.46 and a 12 month high of $35.29. The stock has a 50-day moving average price of $29.48 and a 200-day moving average price of $30.07. 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 $3.94 billion, a PE ratio of 24.93 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 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 firm 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 company earned $0.13 earnings per share. The business's quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts expect that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be issued a $1.80 dividend. This is an increase from Rayonier's previous special dividend of $0.20. Rayonier's payout ratio is presently 107.55%.

Rayonier announced that its Board of Directors has approved a stock repurchase program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Rayonier

A number of large investors have recently bought and sold shares of RYN. V Square Quantitative Management LLC bought a new position in shares of Rayonier in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its position in Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 672 shares during the period. Quest Partners LLC purchased a new position in Rayonier in the second quarter valued at approximately $40,000. Blue Trust Inc. grew its stake in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 1,042 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 worth $45,000 after purchasing an additional 511 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.