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.

RYN has been the topic of a number of other reports. Citigroup cut their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Truist Financial reduced their price target 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. Finally, Royal Bank of Canada decreased their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 7th.

Rayonier Stock Down 0.6 %

Shares of RYN opened at $26.16 on Monday. The company’s 50-day simple moving average is $26.03 and its 200-day simple moving average is $29.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier has a 1 year low of $24.88 and a 1 year high of $35.29. The stock has a market capitalization of $4.08 billion, a PE ratio of 11.08 and a beta of 1.03.

Rayonier (NYSE:RYN) last posted its quarterly earnings data 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 return on equity of 3.86% and a net margin of 28.44%. Analysts forecast that Rayonier will post 0.55 earnings per share for the current fiscal year.

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

Rayonier Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYN. Norges Bank purchased a new position in shares of Rayonier in the 4th quarter valued at about $343,007,000. Deutsche Bank AG boosted its stake in shares of Rayonier by 730.8% during the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock worth $47,748,000 after acquiring an additional 1,609,232 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Rayonier in the 4th quarter worth approximately $30,935,000. Millennium Management LLC increased its stake in Rayonier by 253.3% in the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust’s stock valued at $28,576,000 after purchasing an additional 784,955 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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 last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

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.