Rayonier (NYSE:RYN)‘s stock had its “hold” rating reiterated by stock analysts at Royal Bank of Canada in a report released on Friday. They presently have a $30.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s price target points to a potential downside of 7.52% from the stock’s previous close.
A number of other research firms also recently weighed in on RYN. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Monday, November 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $31.00 target price on shares of Rayonier in a research note on Thursday, November 2nd. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.50.
Rayonier (RYN) traded up $0.34 on Friday, hitting $32.44. 455,945 shares of the company were exchanged, compared to its average volume of 533,978. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.45 and a current ratio of 1.74. The company has a market capitalization of $4,080.00, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 11.76 and a beta of 0.44. Rayonier has a twelve month low of $26.84 and a twelve month high of $32.47.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $177.90 million during the quarter, compared to the consensus estimate of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. Rayonier’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. equities analysts anticipate that Rayonier will post 0.54 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of RYN. Schwab Charles Investment Management Inc. increased its stake in Rayonier by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 802,491 shares of the real estate investment trust’s stock valued at $23,088,000 after purchasing an additional 51,080 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Rayonier by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 351 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Rayonier by 8.7% in the second quarter. Principal Financial Group Inc. now owns 546,619 shares of the real estate investment trust’s stock valued at $15,726,000 after buying an additional 43,842 shares during the period. Swiss National Bank boosted its holdings in shares of Rayonier by 1.4% in the second quarter. Swiss National Bank now owns 205,900 shares of the real estate investment trust’s stock valued at $5,924,000 after buying an additional 2,900 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Rayonier by 70.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,935 shares of the real estate investment trust’s stock valued at $458,000 after buying an additional 6,613 shares during the period. 83.38% of the stock is owned by hedge funds and other institutional investors.
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Rayonier Company Profile
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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