Rayonier Inc. (NYSE:RYN – Free Report) – Research analysts at Seaport Res Ptn boosted their Q3 2023 EPS estimates for shares of Rayonier in a research note issued on Wednesday, August 9th. Seaport Res Ptn analyst M. Weintraub now anticipates that the real estate investment trust will post earnings per share of $0.15 for the quarter, up from their prior estimate of $0.11. The consensus estimate for Rayonier’s current full-year earnings is $0.34 per share. Seaport Res Ptn also issued estimates for Rayonier’s Q4 2023 earnings at $0.17 EPS.
A number of other research analysts also recently issued reports on RYN. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. TheStreet cut shares of Rayonier from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. 51job reissued a “reiterates” rating on shares of Rayonier in a research note on Wednesday, June 28th. Finally, Truist Financial started coverage on shares of Rayonier in a research note on Monday, May 15th. They issued a “hold” rating and a $33.00 target price for the company. Three research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.50.
Rayonier Trading Down 0.2 %
Shares of RYN stock opened at $31.59 on Monday. Rayonier has a 52-week low of $27.81 and a 52-week high of $38.24. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 57.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.62 and a current ratio of 1.92. The firm has a fifty day moving average of $31.26 and a 200-day moving average of $32.05.
Rayonier (NYSE:RYN – Get Free Report) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $208.90 million during the quarter, compared to analysts’ expectations of $210.18 million. Rayonier had a return on equity of 2.55% and a net margin of 9.77%. The business’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share.
Institutional Trading of Rayonier
Institutional investors have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina increased its stake in shares of Rayonier by 1.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 63,240 shares of the real estate investment trust’s stock valued at $2,084,000 after buying an additional 800 shares during the period. Victory Capital Management Inc. increased its position in Rayonier by 18.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,389,381 shares of the real estate investment trust’s stock worth $111,822,000 after buying an additional 521,662 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Rayonier by 3.5% during the fourth quarter. New York State Common Retirement Fund now owns 175,400 shares of the real estate investment trust’s stock worth $5,781,000 after purchasing an additional 6,000 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Rayonier by 7.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,951,718 shares of the real estate investment trust’s stock valued at $64,329,000 after buying an additional 128,040 shares in the last quarter. Finally, Elequin Securities LLC purchased a new position in Rayonier during the 4th quarter valued at approximately $1,466,000. Hedge funds and other institutional investors own 81.93% of the company’s stock.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s payout ratio is currently 207.27%.
About Rayonier
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 March 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.
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