Rayonier (NYSE:RYN) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other brokerages have also recently commented on RYN. Zacks Investment Research cut shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. BMO Capital Markets cut shares of Rayonier from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.50.
Shares of Rayonier stock traded down $0.88 during trading on Tuesday, hitting $30.73. The company’s stock had a trading volume of 617,566 shares, compared to its average volume of 771,753. The company has a quick ratio of 2.14, a current ratio of 3.43 and a debt-to-equity ratio of 0.57. Rayonier has a 52 week low of $29.27 and a 52 week high of $39.73. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 47.28, a P/E/G ratio of 9.20 and a beta of 0.43.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.12. Rayonier had a net margin of 18.48% and a return on equity of 7.34%. The company had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $179.87 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Rayonier’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Rayonier will post 0.68 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of RYN. Dimensional Fund Advisors LP bought a new stake in Rayonier during the first quarter valued at $217,000. LPL Financial LLC boosted its position in Rayonier by 24.4% during the first quarter. LPL Financial LLC now owns 13,471 shares of the real estate investment trust’s stock valued at $474,000 after acquiring an additional 2,642 shares during the last quarter. Principal Financial Group Inc. boosted its position in Rayonier by 6.6% during the first quarter. Principal Financial Group Inc. now owns 744,031 shares of the real estate investment trust’s stock valued at $26,174,000 after acquiring an additional 45,977 shares during the last quarter. Pennsylvania Trust Co bought a new stake in Rayonier during the second quarter valued at $218,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Rayonier during the second quarter valued at $275,000. 86.53% of the stock is currently owned by institutional investors and hedge funds.
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 June 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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