Rayonier (NYSE:RYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Shares of Rayonier have outperformed the industry it belongs to in the past three months. Moreover, the stock has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in a week’s time. Notably, the company’s fourth-quarter 2017 results benefited from strong performance of its three timber segments. Rayonier’s portfolio of timberlands reflects geographical diversity. Moreover, the company is likely to benefit from the developments in biogenetics & cloning that help in fast growth of trees. The company has also upgraded its U.S. South portfolio through strategic acquisitions and is expected to gain from the recovery in the country’s housing sector. Such efforts position the company for long-term growth. However, the company faces competition from its substitutes and other market players in the timberland sector. Foreign exchange fluctuations add to its woes.”
Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $29.00 price target on shares of Rayonier in a report on Wednesday, November 15th. BMO Capital Markets reissued a “hold” rating and issued a $31.00 price objective on shares of Rayonier in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.33.
Shares of Rayonier (NYSE:RYN) traded up $0.09 during trading on Thursday, hitting $34.06. The stock had a trading volume of 173,566 shares, compared to its average volume of 755,211. The stock has a market capitalization of $4,400.00, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 10.95 and a beta of 0.43. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 0.60. Rayonier has a 52-week low of $26.84 and a 52-week high of $34.24.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The firm had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. During the same quarter last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. sell-side analysts forecast that Rayonier will post 0.6 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Rayonier by 5.7% during the second quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock valued at $99,289,000 after acquiring an additional 186,679 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Rayonier by 2.2% during the third quarter. Mutual of America Capital Management LLC now owns 104,494 shares of the real estate investment trust’s stock valued at $3,019,000 after acquiring an additional 2,288 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Rayonier by 3.5% during the third quarter. California Public Employees Retirement System now owns 438,580 shares of the real estate investment trust’s stock valued at $12,671,000 after acquiring an additional 14,980 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Rayonier by 59.0% during the third quarter. Public Employees Retirement System of Ohio now owns 166,332 shares of the real estate investment trust’s stock valued at $4,805,000 after acquiring an additional 61,739 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Rayonier during the third quarter valued at approximately $1,039,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
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Rayonier Company Profile
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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