Rayonier Inc. (NYSE:RYN – Get Free Report) has been assigned an average recommendation of “Hold” from the three research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.00.
A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price target on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Truist Financial upped their price objective on Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, StockNews.com downgraded Rayonier from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th.
Rayonier Stock Performance
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The firm had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. As a group, equities research analysts predict that Rayonier will post 0.46 EPS for the current fiscal year.
Rayonier Cuts Dividend
The firm also recently declared a special dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, December 28th. Rayonier’s dividend payout ratio is currently 97.44%.
Institutional Investors Weigh In On Rayonier
Institutional investors and hedge funds have recently modified their holdings of the business. Bollard Group LLC lifted its stake in shares of Rayonier by 0.9% during the 2nd quarter. Bollard Group LLC now owns 67,610 shares of the real estate investment trust’s stock worth $2,123,000 after acquiring an additional 626 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its position in Rayonier by 66.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock valued at $6,514,000 after purchasing an additional 91,141 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Rayonier by 1.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 60,809 shares of the real estate investment trust’s stock valued at $1,909,000 after purchasing an additional 1,049 shares in the last quarter. Acas LLC bought a new stake in Rayonier during the 3rd quarter valued at $1,294,000. Finally, Raymond James & Associates raised its position in Rayonier by 1.1% during the 3rd quarter. Raymond James & Associates now owns 60,135 shares of the real estate investment trust’s stock valued at $1,711,000 after purchasing an additional 660 shares in the last quarter. 82.75% of the stock is owned by institutional investors.
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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.
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