Rayonier (RYN) Rating Reiterated by Royal Bank of Canada
Rayonier (NYSE:RYN)‘s stock had its “hold” rating reissued by equities researchers at Royal Bank of Canada in a research note issued to investors on Friday. They presently have a $30.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 7.52% from the company’s current price.
RYN has been the subject of several other research reports. BMO Capital Markets restated a “hold” rating and set a $31.00 target price on shares of Rayonier in a report on Thursday, November 2nd. Zacks Investment Research cut shares of Rayonier from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $31.50.
Rayonier (RYN) traded up $0.34 during trading on Friday, hitting $32.44. 455,945 shares of the stock traded hands, compared to its average volume of 533,978. The firm has a market capitalization of $4,080.00, a PE ratio of 30.60, a PEG ratio of 11.76 and a beta of 0.44. Rayonier has a 12 month low of $26.84 and a 12 month high of $32.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.45.
Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. The company had revenue of $177.90 million during the quarter, compared to analysts’ expectations of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. equities research analysts forecast that Rayonier will post 0.54 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Rayonier by 5.7% during the second quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock worth $99,289,000 after purchasing an additional 186,679 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Rayonier by 5.5% during the second quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock worth $305,296,000 after purchasing an additional 551,924 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Rayonier by 2.2% during the third quarter. Mutual of America Capital Management LLC now owns 104,494 shares of the real estate investment trust’s stock worth $3,019,000 after purchasing an additional 2,288 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Rayonier by 8.7% during the second quarter. Principal Financial Group Inc. now owns 546,619 shares of the real estate investment trust’s stock worth $15,726,000 after purchasing an additional 43,842 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Rayonier by 6.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 802,491 shares of the real estate investment trust’s stock worth $23,088,000 after purchasing an additional 51,080 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
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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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