Citigroup Lowers Rayonier (NYSE:RYN) Price Target to $24.00

Rayonier (NYSE:RYN) had its price target cut by analysts at Citigroup from $27.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target suggests a potential upside of 8.54% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Tuesday. Finally, Royal Bank Of Canada raised their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rayonier currently has an average rating of “Hold” and a consensus price target of $27.25.

Rayonier Price Performance

NYSE:RYN traded down $0.27 during trading hours on Wednesday, reaching $22.11. The stock had a trading volume of 1,404,608 shares, compared to its average volume of 1,146,936. The stock has a market capitalization of $3.41 billion, a PE ratio of 4.47 and a beta of 0.98. Rayonier has a 52 week low of $21.23 and a 52 week high of $32.74. The company has a 50 day moving average price of $25.02 and a two-hundred day moving average price of $24.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. The company had revenue of $177.53 million during the quarter, compared to analyst estimates of $162.82 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm’s revenue was up 43.0% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS. FY 2025 guidance at 0.410- EPS. As a group, sell-side analysts anticipate that Rayonier will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Rayonier

Several large investors have recently added to or reduced their stakes in RYN. Elequin Capital LP acquired a new position in shares of Rayonier in the first quarter valued at about $30,000. Hartford Financial Management Inc. purchased a new stake in Rayonier in the third quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new position in Rayonier in the 1st quarter worth approximately $32,000. Allworth Financial LP increased its holdings in Rayonier by 213.7% in the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 829 shares during the period. Finally, GAMMA Investing LLC raised its position in Rayonier by 138.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 986 shares during the last quarter. Hedge funds and other 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.