Rayonier (NYSE:RYN) Price Target Raised to $32.00 at Truist Financial

Rayonier (NYSE:RYN) had its price objective increased by Truist Financial from $31.00 to $32.00 in a report released on Tuesday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Separately, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Rayonier Stock Up 0.8 %

Shares of NYSE:RYN opened at $32.36 on Tuesday. The stock has a fifty day simple moving average of $31.04 and a two-hundred day simple moving average of $30.30. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 32.36 and a beta of 1.04. Rayonier has a 12-month low of $24.84 and a 12-month high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, research analysts anticipate that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, September 16th. Rayonier’s dividend payout ratio is currently 114.00%.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company’s stock.

Institutional Trading of Rayonier

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Rayonier in the third quarter worth $25,000. Advisors Asset Management Inc. bought a new stake in Rayonier during the first quarter valued at about $26,000. GAMMA Investing LLC grew its holdings in Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares during the period. Quest Partners LLC bought a new stake in Rayonier during the second quarter valued at about $40,000. Finally, Blue Trust Inc. grew its holdings in Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,042 shares during the period. Institutional investors own 89.12% of the company’s stock.

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.