StockNews.com Upgrades Rayonier (NYSE:RYN) to “Hold”

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

Separately, Truist Financial upped their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, October 15th.

Rayonier Price Performance

Shares of RYN opened at $29.97 on Friday. The company has a 50 day moving average of $31.46 and a two-hundred day moving average of $30.31. The company has a quick ratio of 1.78, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. Rayonier has a twelve month low of $27.40 and a twelve month high of $35.29. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 28.27 and a beta of 1.05.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same period in the previous year, the business earned $0.13 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts predict that Rayonier will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by insiders.

Institutional Trading of Rayonier

Several institutional investors and hedge funds have recently bought and sold shares of RYN. Price T Rowe Associates Inc. MD increased its stake in shares of Rayonier by 1.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after acquiring an additional 196,571 shares during the period. SG Americas Securities LLC boosted its holdings in Rayonier by 308.5% in the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 23,953 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Rayonier during the 2nd quarter worth about $732,000. Boston Partners purchased a new position in shares of Rayonier during the 1st quarter valued at about $957,000. Finally, Walleye Trading LLC acquired a new position in shares of Rayonier in the 1st quarter valued at about $1,203,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.