Rayonier (NYSE:RYN) Upgraded at StockNews.com

StockNews.com upgraded shares of Rayonier (NYSE:RYN) from a hold rating to a buy rating in a research report sent to investors on Monday.

Other equities analysts also recently issued reports about the company. Citigroup cut their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reduced their price objective on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Truist Financial dropped their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th.

Rayonier Trading Down 0.6 %

Rayonier stock opened at $26.16 on Monday. Rayonier has a one year low of $24.88 and a one year high of $35.29. The stock has a market cap of $4.08 billion, a PE ratio of 11.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a 50-day moving average of $26.03 and a two-hundred day moving average of $29.21.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, research analysts anticipate that Rayonier will post 0.55 EPS for the current fiscal year.

Rayonier declared that its board has authorized a stock repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is 46.19%.

Institutional Trading of Rayonier

A number of hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC acquired a new position in shares of Rayonier during the 4th quarter worth approximately $494,000. Waverly Advisors LLC acquired a new position in Rayonier in the 4th quarter valued at $406,000. Squarepoint Ops LLC boosted its position in Rayonier by 881.3% during the fourth quarter. Squarepoint Ops LLC now owns 8,258 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 9,315 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Rayonier in the fourth quarter valued at approximately $3,654,000. Finally, Two Sigma Advisers LP acquired a new position in Rayonier during the fourth quarter worth $1,569,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

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.