Analysts Set Rayonier Inc. (RYN) Target Price at $35.67

Shares of Rayonier Inc. (NYSE:RYN) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $35.67.

Several equities research analysts have recently issued reports on RYN shares. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday. BMO Capital Markets cut shares of Rayonier from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 18th. Finally, Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Monday, July 30th.

Institutional investors have recently added to or reduced their stakes in the company. Putnam Investments LLC bought a new stake in Rayonier in the second quarter worth $3,399,000. Federated Investors Inc. PA increased its position in Rayonier by 25.4% in the second quarter. Federated Investors Inc. PA now owns 100,899 shares of the real estate investment trust’s stock worth $3,904,000 after purchasing an additional 20,443 shares during the last quarter. BlackRock Inc. increased its position in Rayonier by 4.5% in the second quarter. BlackRock Inc. now owns 13,594,331 shares of the real estate investment trust’s stock worth $525,964,000 after purchasing an additional 580,100 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in Rayonier in the second quarter worth $228,000. Finally, Oregon Public Employees Retirement Fund increased its position in Rayonier by 3.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 50,088 shares of the real estate investment trust’s stock worth $1,938,000 after purchasing an additional 1,753 shares during the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.

NYSE:RYN traded down $0.27 during trading hours on Tuesday, hitting $31.32. 358,200 shares of the stock traded hands, compared to its average volume of 766,716. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.87 and a quick ratio of 2.54. Rayonier has a 1 year low of $29.27 and a 1 year high of $39.73. The company has a market capitalization of $4.05 billion, a P/E ratio of 48.18, a P/E/G ratio of 7.75 and a beta of 0.43.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.12. Rayonier had a net margin of 18.48% and a return on equity of 7.34%. The business had revenue of $200.90 million for the quarter, compared to the consensus estimate of $179.87 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Rayonier will post 0.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, December 14th. Rayonier’s payout ratio is currently 166.15%.

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 June 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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