Rayonier Inc. (NYSE:RYN) has been given an average rating of “Hold” by the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $29.50.

RYN has been the subject of a number of research analyst reports. Raymond James boosted their target price on shares of Rayonier from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup raised shares of Rayonier from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $33.00 to $29.00 in a research note on Friday, March 27th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of Rayonier in a research note on Thursday, April 16th.

In other Rayonier news, CEO David L. Nunes purchased 1,428 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $23.82 per share, with a total value of $34,014.96. Following the completion of the purchase, the chief executive officer now directly owns 392,986 shares in the company, valued at approximately $9,360,926.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Rayonier by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 9,661,322 shares of the real estate investment trust’s stock valued at $227,525,000 after purchasing an additional 774,802 shares in the last quarter. Impax Asset Management Group plc increased its stake in Rayonier by 21.3% in the first quarter. Impax Asset Management Group plc now owns 5,359,275 shares of the real estate investment trust’s stock valued at $125,406,000 after purchasing an additional 941,382 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in Rayonier by 12.9% in the fourth quarter. Pictet Asset Management Ltd. now owns 3,520,978 shares of the real estate investment trust’s stock valued at $115,347,000 after purchasing an additional 403,663 shares in the last quarter. State Street Corp increased its stake in Rayonier by 3.6% in the first quarter. State Street Corp now owns 3,269,088 shares of the real estate investment trust’s stock valued at $76,987,000 after purchasing an additional 112,405 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in Rayonier by 5.2% in the first quarter. Confluence Investment Management LLC now owns 3,161,713 shares of the real estate investment trust’s stock valued at $74,459,000 after purchasing an additional 156,946 shares in the last quarter. 88.58% of the stock is owned by hedge funds and other institutional investors.

NYSE:RYN traded up $0.39 on Thursday, reaching $24.79. The stock had a trading volume of 755,918 shares, compared to its average volume of 813,575. The company has a market capitalization of $3.12 billion, a P/E ratio of 53.04 and a beta of 0.88. Rayonier has a 1-year low of $15.96 and a 1-year high of $33.10. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $23.81 and a 200-day moving average price of $26.70.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). Rayonier had a return on equity of 2.25% and a net margin of 7.74%. The company had revenue of $259.10 million during the quarter, compared to the consensus estimate of $166.06 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue was up 35.3% on a year-over-year basis. Sell-side analysts predict that Rayonier will post 0.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, June 15th. Rayonier’s dividend payout ratio (DPR) is 234.78%.

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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Analyst Recommendations for Rayonier (NYSE:RYN)

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