Rayonier (NYSE:RYN) Stock Rating Upgraded by StockNews.com

Rayonier (NYSE:RYN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other equities analysts have also commented on RYN. Royal Bank of Canada raised their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Truist Financial boosted their price target on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.50.

Rayonier Stock Performance

RYN stock traded down $0.06 during midday trading on Thursday, reaching $29.36. 447,270 shares of the company’s stock traded hands, compared to its average volume of 381,490. The firm has a market capitalization of $4.36 billion, a PE ratio of 26.21 and a beta of 1.09. The company has a 50-day moving average price of $32.36 and a two-hundred day moving average price of $31.47. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.04 and a current ratio of 2.46.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The company had revenue of $168.10 million for the quarter, compared to analyst estimates of $190.04 million. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Rayonier will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Rayonier

Several institutional investors have recently modified their holdings of RYN. CENTRAL TRUST Co lifted its position in Rayonier by 5.5% in the first quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 336 shares during the last quarter. M&T Bank Corp increased its stake in shares of Rayonier by 4.4% in the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 344 shares during the period. Leavell Investment Management Inc. raised its holdings in Rayonier by 1.0% during the 4th quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock valued at $1,289,000 after buying an additional 363 shares during the last quarter. Retirement Systems of Alabama boosted its position in Rayonier by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock valued at $5,694,000 after buying an additional 437 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Rayonier by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after acquiring an additional 439 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Company Profile

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.