Shares of Rayonier Inc. (NYSE:RYN) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.33.
A number of research analysts recently commented on RYN shares. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research report on Monday, July 31st. BidaskClub downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. BMO Capital Markets reissued a “buy” rating and set a $31.00 price objective on shares of Rayonier in a research report on Wednesday, April 19th. Finally, Vertical Research raised shares of Rayonier to a “buy” rating in a research report on Sunday, May 28th.
Rayonier (NYSE:RYN) traded down 0.10% during midday trading on Friday, hitting $28.66. 237,258 shares of the stock traded hands. Rayonier has a one year low of $25.24 and a one year high of $29.86. The company has a 50-day moving average price of $28.89 and a 200 day moving average price of $28.52. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 24.14 and a beta of 0.35.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. The firm had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The company’s revenue was up 47.4% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. Equities research analysts anticipate that Rayonier will post $0.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio (DPR) is presently 84.75%.
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Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Rayonier by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 158,545 shares of the real estate investment trust’s stock valued at $4,217,000 after buying an additional 12,238 shares during the period. Bank of Montreal Can boosted its stake in Rayonier by 5.4% in the first quarter. Bank of Montreal Can now owns 122,477 shares of the real estate investment trust’s stock valued at $3,471,000 after buying an additional 6,253 shares during the period. Fox Run Management L.L.C. purchased a new stake in Rayonier during the first quarter valued at approximately $261,000. Louisiana State Employees Retirement System boosted its stake in Rayonier by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the real estate investment trust’s stock valued at $879,000 after buying an additional 700 shares during the period. Finally, Washington Trust Bank boosted its stake in Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 6,750 shares during the period. Institutional investors own 82.59% of the company’s stock.
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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