Rayonier (NYSE:RYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $39.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.21% from the company’s previous close.
According to Zacks, “Shares of Rayonier have outperformed the industry it belongs to in the past three months. Moreover, the stock has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in a month’s time. Notably, the company’s fourth-quarter 2017 results benefited from strong performance of its three timber segments. Rayonier’s portfolio of timberlands reflects geographical diversity. Moreover, 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 country’s housing sector. Such efforts position the company for long-term growth. However, competition from its substitutes and other market players in the timberland sector, as well as foreign exchange fluctuations remain concerns for the company.”
Several other research analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $30.00 price target on shares of Rayonier in a research note on Friday, January 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $31.00 price target on shares of Rayonier in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Rayonier presently has a consensus rating of “Hold” and a consensus price target of $33.33.
Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.11. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. Rayonier had a return on equity of 4.96% and a net margin of 18.64%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. research analysts forecast that Rayonier will post 0.65 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in Rayonier by 22.0% in the 2nd quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 642 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Rayonier in the 4th quarter valued at about $168,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rayonier by 46.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 2,229 shares during the last quarter. Gamble Jones Investment Counsel acquired a new position in Rayonier in the 4th quarter valued at about $237,000. Finally, Parametrica Management Ltd acquired a new position in Rayonier in the 4th quarter valued at about $252,000. 82.85% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This report was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://stocknewstimes.com/2018/02/22/rayonier-ryn-raised-to-buy-at-zacks-investment-research-2.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rayonier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier and related companies with MarketBeat.com's FREE daily email newsletter.