Rayonier Inc. (NYSE:RYN) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Monday. They presently have a $31.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 9.23% from the stock’s current price.
A number of other research firms also recently weighed in on RYN. Zacks Investment Research raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 price objective on shares of Rayonier in a report on Monday, July 31st. BidaskClub cut shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.00.
Rayonier (RYN) opened at 28.38 on Monday. Rayonier has a one year low of $25.24 and a one year high of $29.86. The firm has a market cap of $3.65 billion, a PE ratio of 23.91 and a beta of 0.35. The company has a 50-day moving average price of $28.84 and a 200-day moving average price of $28.54.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. During the same period in the prior year, the business posted $0.07 earnings per share. Rayonier’s revenue for the quarter was up 47.4% compared to the same quarter last year. Equities analysts predict that Rayonier will post $0.43 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of RYN. IFP Advisors Inc boosted its stake in shares of Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 67 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Rayonier by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 21,189 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 73 shares in the last quarter. Novare Capital Management LLC boosted its stake in shares of Rayonier by 0.8% in the first quarter. Novare Capital Management LLC now owns 9,280 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 75 shares in the last quarter. Utah Retirement Systems boosted its stake in shares of Rayonier by 0.4% in the first quarter. Utah Retirement Systems now owns 22,327 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 100 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Rayonier by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 29,895 shares of the real estate investment trust’s stock worth $860,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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