BMO Capital Markets reaffirmed their hold rating on shares of Rayonier Inc. (NYSE:RYN) in a research report sent to investors on Thursday morning. BMO Capital Markets currently has a $31.00 price objective on the real estate investment trust’s stock.
A number of other brokerages have also commented on RYN. Zacks Investment Research lowered shares of Rayonier from a strong-buy rating to a hold rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reissued a hold rating and set a $29.00 price objective on shares of Rayonier in a report on Sunday, October 8th. Finally, BidaskClub raised shares of Rayonier from a sell rating to a hold rating in a report on Saturday, August 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Rayonier currently has a consensus rating of Hold and a consensus target price of $30.25.
Shares of Rayonier (NYSE:RYN) traded up $0.28 during trading hours on Thursday, hitting $30.76. 687,790 shares of the stock were exchanged, compared to its average volume of 454,340. The stock has a market capitalization of $3,960.00, a price-to-earnings ratio of 62.78, a PEG ratio of 14.14 and a beta of 0.42. Rayonier has a fifty-two week low of $25.85 and a fifty-two week high of $30.98. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $177.90 million for the quarter, compared to analyst estimates of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. sell-side analysts expect that Rayonier will post 0.48 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, December 14th. Rayonier’s payout ratio is 94.34%.
A number of hedge funds have recently modified their holdings of RYN. Advisor Group Inc. increased its holdings in Rayonier by 22.0% during the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 642 shares during the period. Riverhead Capital Management LLC increased its holdings in Rayonier by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 2,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rayonier by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 351 shares during the period. Enterprise Financial Services Corp acquired a new stake in Rayonier in the second quarter valued at approximately $144,000. Finally, Creative Planning boosted its stake in Rayonier by 36.2% in the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 1,417 shares in the last quarter. 82.48% of the stock is currently owned by institutional investors.
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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