Rayonier (NYSE:RYN) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other research analysts have also issued reports on the company. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, March 12th. Truist Financial dropped their price objective on Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Citigroup reduced their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their target price on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

Rayonier Stock Performance

NYSE:RYN opened at $23.90 on Tuesday. The firm has a market capitalization of $3.72 billion, a PE ratio of 10.13 and a beta of 1.07. The stock’s fifty day moving average is $25.65 and its 200 day moving average is $27.15. Rayonier has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company’s revenue was down 27.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Rayonier will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Rayonier during the fourth quarter valued at $343,007,000. Deutsche Bank AG increased its position in Rayonier by 730.8% during the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock valued at $47,748,000 after purchasing an additional 1,609,232 shares during the period. Franklin Resources Inc. purchased a new position in Rayonier during the 4th quarter valued at about $30,935,000. Nuveen LLC bought a new stake in shares of Rayonier in the 1st quarter valued at about $26,187,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Rayonier in the 1st quarter worth approximately $23,582,000. 89.12% of the stock is owned by institutional investors.

About Rayonier

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.