2 weeks Ago By ABMN Staff
Rayonier ( NYSE:RYN – Free Report ) had its target price lowered by Truist Financial from $30.00 to $27.00 in a research report report published on Tuesday morning, Benzinga reports.
The brokerage currently has a hold rating on the real estate investment trust’s stock. A number of other analysts have also recently commented on the company. Citigroup dropped their price target on Rayonier from $32.
00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.
00 target price on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada lowered their price target on Rayonier from $33.00 to $30.
00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th.
Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Rayonier has an average rating of “Hold” and an average price target of $28.
25. Read Our Latest Report on RYN Rayonier Price Performance Rayonier ( NYSE:RYN – Get Free Report ) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.
27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.08.
Rayonier had a net margin of 28.44% and a return on equity of 3.86%.
Research analysts expect that Rayonier will post 0.55 EPS for the current fiscal year. Rayonier Cuts Dividend The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st.
Stockholders of record on Monday, March 17th were paid a $0.2725 dividend. This represents a $1.
09 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, March 17th.
Rayonier’s dividend payout ratio is currently 46.19%. Institutional Investors Weigh In On Rayonier Several large investors have recently bought and sold shares of the business.
Oak Thistle LLC purchased a new stake in shares of Rayonier during the 4th quarter valued at about $467,000. Oppenheimer & Co. Inc.
purchased a new stake in Rayonier in the fourth quarter worth approximately $327,000. HighTower Advisors LLC grew its position in Rayonier by 3.4% in the 4th quarter.
HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock worth $1,738,000 after purchasing an additional 2,168 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rayonier by 1.
9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock valued at $64,958,000 after buying an additional 46,956 shares during the last quarter.
Finally, Swiss National Bank raised its stake in Rayonier by 5.9% during the 4th quarter. Swiss National Bank now owns 292,382 shares of the real estate investment trust’s stock valued at $7,631,000 after buying an additional 16,282 shares during the last quarter.
89.12% of the stock is currently owned by institutional investors. About Rayonier ( Get Free Report ) 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.
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