Royal Bank of Canada Reiterates “Hold” Rating for Rayonier (RYN)

Rayonier (NYSE:RYN)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Friday. They currently have a $30.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 7.52% from the stock’s current price.

A number of other equities analysts have also issued reports on RYN. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 target price on shares of Rayonier in a research report on Friday, September 29th. Zacks Investment Research lowered shares of Rayonier from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.50.

Rayonier (NYSE:RYN) opened at $32.44 on Friday. The company has a market cap of $4,182.55, a PE ratio of 66.20, a PEG ratio of 11.96 and a beta of 0.39. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. Rayonier has a 12-month low of $26.84 and a 12-month high of $32.47.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $177.90 million during the quarter, compared to analyst estimates of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. research analysts expect that Rayonier will post 0.54 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RYN. Schwab Charles Investment Management Inc. grew its position in Rayonier by 6.8% in the 2nd 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 buying an additional 51,080 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rayonier by 7.9% in the 2nd 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 in the last quarter. Principal Financial Group Inc. grew its position in Rayonier by 8.7% in the 2nd 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 in the last quarter. Swiss National Bank grew its position in Rayonier by 1.4% in the 2nd 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 in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Rayonier by 70.9% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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About Rayonier

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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