StockNews.com Upgrades Rayonier (NYSE:RYN) to “Buy”

Rayonier (NYSE:RYN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other equities research analysts have also recently weighed in on RYN. Truist Financial decreased their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reduced their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Citigroup lowered their price target on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th.

Rayonier Stock Performance

Rayonier stock opened at $26.29 on Monday. The business has a 50 day moving average of $26.04 and a 200-day moving average of $29.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier has a 1 year low of $24.88 and a 1 year high of $35.29. The company has a market capitalization of $3.92 billion, a P/E ratio of 11.14 and a beta of 1.03.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, equities research analysts predict that Rayonier will post 0.55 earnings per share for the current year.

Rayonier announced that its board has approved a stock repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Rayonier

Several institutional investors have recently added to or reduced their stakes in RYN. Harvest Fund Management Co. Ltd bought a new stake in shares of Rayonier in the 4th quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings 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 purchasing an additional 672 shares during the period. UMB Bank n.a. increased its stake in Rayonier by 59.7% in 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. Blue Trust Inc. increased its stake in Rayonier by 539.9% in 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. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,217 shares during the period. 89.12% of the stock is 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.