Rayonier (NYSE:RYN) Upgraded to Buy at StockNews.com

Rayonier (NYSE:RYN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other research firms also recently commented on RYN. Truist Financial cut their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Citigroup cut their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th.

Rayonier Stock Up 0.6 %

Shares of Rayonier stock traded up $0.17 during midday trading on Monday, hitting $26.07. The company had a trading volume of 865,586 shares, compared to its average volume of 1,026,794. Rayonier has a 52-week low of $24.88 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a market capitalization of $3.88 billion, a P/E ratio of 11.04 and a beta of 1.03. The company has a 50 day moving average of $26.07 and a 200 day moving average of $29.25.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. On average, equities analysts predict that Rayonier will post 0.55 earnings per share for the current fiscal year.

Rayonier declared that its board has authorized a share repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Rayonier

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Rayonier in the 4th quarter worth approximately $343,007,000. Deutsche Bank AG lifted its holdings in shares of Rayonier by 730.8% in the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock worth $47,748,000 after buying an additional 1,609,232 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Rayonier in the fourth quarter worth $30,935,000. Millennium Management LLC boosted its position in shares of Rayonier by 253.3% during the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust’s stock worth $28,576,000 after acquiring an additional 784,955 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Rayonier by 26.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after acquiring an additional 695,810 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

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