Rayonier (NYSE:RYN) Given New $32.00 Price Target at Raymond James

Rayonier (NYSE:RYN) had its price objective decreased by Raymond James from $34.00 to $32.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the real estate investment trust’s stock.

RYN has been the topic of a number of other reports. Citigroup raised their target price on shares of Rayonier from $30.00 to $33.00 and gave the stock a neutral rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated a hold rating on shares of Rayonier in a research report on Sunday, February 9th. Finally, DA Davidson upgraded shares of Rayonier from a neutral rating to a buy rating and set a $33.00 price objective on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $31.79.

Shares of RYN traded down $0.23 during mid-day trading on Monday, reaching $29.07. 6,223 shares of the company’s stock were exchanged, compared to its average volume of 644,677. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.83 and a quick ratio of 1.17. The stock has a market capitalization of $3.79 billion, a PE ratio of 64.56 and a beta of 0.93. The business’s fifty day simple moving average is $31.46 and its 200-day simple moving average is $29.52. Rayonier has a 52-week low of $25.83 and a 52-week high of $33.10.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $178.80 million for the quarter, compared to analyst estimates of $193.18 million. Rayonier had a net margin of 8.32% and a return on equity of 3.76%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities research analysts predict that Rayonier will post 0.42 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. FMR LLC grew its position in Rayonier by 119.5% in the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 802 shares during the last quarter. Bartlett & Co. LLC acquired a new stake in Rayonier in the third quarter valued at $85,000. Firestone Capital Management acquired a new stake in Rayonier in the fourth quarter valued at $93,000. Stelac Advisory Services LLC acquired a new stake in Rayonier in the third quarter valued at $102,000. Finally, Advisor Group Inc. lifted its holdings in Rayonier by 18.8% in the fourth quarter. Advisor Group Inc. now owns 5,701 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 903 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

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

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Analyst Recommendations for Rayonier (NYSE:RYN)

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