Rayonier Inc. (NYSE:RYN) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.00.
A number of research analysts have recently weighed in on RYN shares. Zacks Investment Research lowered Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub lowered Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Vertical Research upgraded Rayonier to a “buy” rating in a research report on Sunday, May 28th. BMO Capital Markets lowered Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research report on Monday, August 14th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research report on Monday, July 31st.
Rayonier (RYN) traded up 0.28% during trading on Wednesday, hitting $28.69. The stock had a trading volume of 309,957 shares. The company has a 50-day moving average of $28.71 and a 200 day moving average of $28.53. Rayonier has a 52-week low of $25.24 and a 52-week high of $29.86. The firm has a market cap of $3.69 billion, a P/E ratio of 24.17 and a beta of 0.35.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. The firm had revenue of $194.70 million during the quarter, compared to analyst estimates of $151.50 million. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The business’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, equities research analysts predict that Rayonier will post $0.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.49%. Rayonier’s dividend payout ratio is currently 84.75%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position in Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 642 shares in the last quarter. IFP Advisors Inc grew its position in 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 acquiring an additional 67 shares in the last quarter. Riverhead Capital Management LLC grew its position in Rayonier by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 2,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rayonier by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock worth $137,000 after acquiring an additional 351 shares in the last quarter. Finally, Enterprise Financial Services Corp purchased a new position in Rayonier in the second quarter worth about $144,000. Institutional investors own 82.40% of the company’s stock.
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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