Royal Bank of Canada Cuts Rayonier (NYSE:RYN) Price Target to $30.00

Rayonier (NYSE:RYN) had its price target decreased by stock analysts at Royal Bank of Canada from $33.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.39% from the company’s previous close.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Citigroup lowered their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Truist Financial decreased their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier presently has an average rating of “Hold” and an average target price of $28.33.

Rayonier Trading Down 0.5 %

Rayonier stock traded down $0.13 during trading hours on Friday, hitting $26.23. The stock had a trading volume of 696,445 shares, compared to its average volume of 786,718. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 24.69 and a beta of 1.03. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The business’s 50 day simple moving average is $27.27 and its 200-day simple moving average is $29.63. Rayonier has a one year low of $24.88 and a one year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. On average, equities analysts predict that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier declared that its Board of Directors has initiated a stock buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Rayonier

Large investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Rayonier by 2.5% in the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after buying an additional 104,464 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Rayonier by 26.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock worth $107,890,000 after purchasing an additional 695,810 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rayonier by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock worth $64,958,000 after purchasing an additional 46,956 shares in the last quarter. Global Alpha Capital Management Ltd. grew its position in Rayonier by 11.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock valued at $30,039,000 after purchasing an additional 116,800 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rayonier by 119.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after buying an additional 249,173 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.