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

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a hold rating to a buy rating in a research note released on Thursday.

A number of other analysts have also recently commented on RYN. Royal Bank of Canada upped 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 increased their price target on Rayonier from $33.00 to $34.00 and gave the stock a hold rating in a report on Thursday, January 4th. Finally, TheStreet upgraded Rayonier from a c+ rating to a b- rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $34.50.

Rayonier Price Performance

RYN traded up $0.60 during trading on Thursday, hitting $29.96. The company’s stock had a trading volume of 413,374 shares, compared to its average volume of 599,008. The firm’s 50 day moving average price is $32.36 and its two-hundred day moving average price is $31.54. The company has a quick ratio of 2.04, a current ratio of 2.46 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 26.63 and a beta of 1.09. Rayonier has a 12 month low of $24.84 and a 12 month high of $35.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The business had revenue of $168.10 million during the quarter, compared to analyst estimates of $190.04 million. During the same quarter last year, the business posted $0.01 earnings per share. Rayonier’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that Rayonier will post 0.48 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.81%. Rayonier’s dividend payout ratio is presently 101.79%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp bought a new position in shares of Rayonier in the third quarter valued at about $26,000. Fifth Third Bancorp boosted its holdings in shares of Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 880 shares during the period. Larson Financial Group LLC bought a new position in shares of Rayonier during the first quarter worth approximately $62,000. Signaturefd LLC lifted its holdings in Rayonier by 371.7% during the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,143 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.