Rayonier (RYN) Lowered to Hold at Zacks Investment Research

Rayonier (NYSE:RYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Shares of Rayonier have outperformed the industry it belongs to in the past three months. The stock has seen the Zacks Consensus Estimate for 2018 earnings remain unchanged in two months’ time. Rayonier’s portfolio of timberlands reflects geographical diversity and the company is likely to benefit from the developments in biogenetics & cloning that help in fast growth of trees. The company has also upgraded its U.S. South portfolio through strategic acquisitions and is expected to gain from the recovery in the nation’s housing sector. However, the company faces competition from its substitutes and other market players in the timberland sector. Rate hike and regulatory requirements also add to its woes.”

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Other equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $30.00 price target on shares of Rayonier in a research report on Friday, January 12th. Finally, Citigroup began coverage on shares of Rayonier in a research report on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.25.

Shares of NYSE:RYN traded down $0.23 during mid-day trading on Tuesday, reaching $36.73. 304,349 shares of the company were exchanged, compared to its average volume of 768,536. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.68. The stock has a market capitalization of $4,729.65, a P/E ratio of 56.57, a PEG ratio of 11.23 and a beta of 0.27. Rayonier has a 1 year low of $26.84 and a 1 year high of $37.09.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.11. The firm had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. research analysts forecast that Rayonier will post 0.65 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new position in Rayonier in the 4th quarter valued at approximately $378,000. Brookfield Asset Management Inc. boosted its position in Rayonier by 121.2% in the 4th quarter. Brookfield Asset Management Inc. now owns 100,000 shares of the real estate investment trust’s stock valued at $3,163,000 after buying an additional 54,800 shares during the period. MetLife Investment Advisors LLC purchased a new position in Rayonier in the 4th quarter valued at approximately $2,580,000. Vident Investment Advisory LLC acquired a new stake in shares of Rayonier in the 4th quarter valued at $374,000. Finally, Jane Street Group LLC acquired a new stake in shares of Rayonier in the 4th quarter valued at $280,000. 84.24% of the stock is owned by institutional investors.

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Rayonier Company Profile

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, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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