Rayonier (RYN) Rating Increased to Buy at Zacks Investment Research

Rayonier (NYSE:RYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $39.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.31% from the stock’s current price.

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 month’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, competition from its substitutes and other market players in the timberland sector, as well as foreign exchange fluctuations remain concerns for the company.”

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price objective on shares of Rayonier in a research note on Friday, January 12th. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 price objective on shares of Rayonier in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Rayonier presently has a consensus rating of “Hold” and a consensus target price of $33.33.

Shares of Rayonier (NYSE:RYN) traded down $0.01 during trading on Tuesday, reaching $34.42. 251,393 shares of the company’s stock were exchanged, compared to its average volume of 755,140. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.68 and a quick ratio of 1.45. Rayonier has a twelve month low of $26.84 and a twelve month high of $34.82. The firm has a market cap of $4,439.12, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 10.55 and a beta of 0.38.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. The business had revenue of $186.30 million for the quarter, compared to analyst estimates of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. Rayonier’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. equities research analysts anticipate that Rayonier will post 0.65 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in RYN. Pictet Asset Management Ltd. increased its stake in shares of Rayonier by 25.7% in the third quarter. Pictet Asset Management Ltd. now owns 2,205,523 shares of the real estate investment trust’s stock worth $63,717,000 after acquiring an additional 451,033 shares during the period. Paloma Partners Management Co purchased a new stake in Rayonier during the fourth quarter worth $12,797,000. Prudential Financial Inc. boosted its holdings in Rayonier by 54.4% during the third quarter. Prudential Financial Inc. now owns 846,146 shares of the real estate investment trust’s stock worth $24,445,000 after buying an additional 298,040 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Rayonier by 35.6% during the third quarter. Wells Fargo & Company MN now owns 1,060,137 shares of the real estate investment trust’s stock worth $30,627,000 after buying an additional 278,516 shares in the last quarter. Finally, Impax Asset Management LTD boosted its holdings in Rayonier by 20.7% during the third quarter. Impax Asset Management LTD now owns 1,128,605 shares of the real estate investment trust’s stock worth $32,605,000 after buying an additional 193,610 shares in the last quarter. Hedge funds and other institutional investors own 82.85% 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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