ValuEngine cut shares of Rayonier (NYSE:RYN) from a buy rating to a hold rating in a research note released on Saturday morning, ValuEngine reports.
A number of other research firms have also recently commented on RYN. Zacks Investment Research cut shares of Rayonier from a buy rating to a hold rating in a report on Thursday, May 16th. TheStreet cut shares of Rayonier from a b- rating to a c rating in a report on Wednesday, August 7th. Bank of America dropped their price target on shares of Rayonier from $32.00 to $31.00 and set an underperform rating on the stock in a research report on Friday, August 9th. Finally, BMO Capital Markets dropped their price target on shares of Rayonier from $34.00 to $30.00 and set a market perform rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $31.19.
NYSE:RYN opened at $26.61 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.56 and a quick ratio of 2.61. The firm has a market capitalization of $3.38 billion, a PE ratio of 33.68 and a beta of 0.77. The business has a fifty day moving average of $29.27. Rayonier has a 12 month low of $25.83 and a 12 month high of $35.63.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $196.11 million. Rayonier had a net margin of 9.28% and a return on equity of 4.18%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. On average, research analysts forecast that Rayonier will post 0.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, September 12th. Rayonier’s dividend payout ratio is 136.71%.
A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Rayonier by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 9,008,257 shares of the real estate investment trust’s stock worth $269,977,000 after acquiring an additional 81,675 shares during the period. Impax Asset Management Group plc raised its position in Rayonier by 26.0% in the second quarter. Impax Asset Management Group plc now owns 3,350,211 shares of the real estate investment trust’s stock worth $101,511,000 after acquiring an additional 691,355 shares during the period. Pictet Asset Management Ltd. raised its position in Rayonier by 4.2% in the second quarter. Pictet Asset Management Ltd. now owns 3,041,932 shares of the real estate investment trust’s stock worth $92,171,000 after acquiring an additional 121,285 shares during the period. Confluence Investment Management LLC raised its position in Rayonier by 0.5% in the second quarter. Confluence Investment Management LLC now owns 3,004,767 shares of the real estate investment trust’s stock worth $91,045,000 after acquiring an additional 15,414 shares during the period. Finally, Marathon Asset Management LLP raised its position in Rayonier by 1.0% in the second quarter. Marathon Asset Management LLP now owns 1,693,034 shares of the real estate investment trust’s stock worth $51,301,000 after acquiring an additional 16,272 shares during the period. 83.60% of the stock is currently owned by institutional investors and hedge funds.
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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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