Zacks Investment Research upgraded shares of Rayonier (NYSE:RYN) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Shares of Rayonier have underperformed its industry over the past three months. Further, the trend in estimate revisions of 2019 earnings does not indicate a favorable outlook for the company. Its fourth-quarter 2018 pro-forma net income per share of 2 cents missed the Zacks Consensus Estimate by a whisker. Further, lower contributions from its real estate and timber segments resulted in year-over-year decline in revenues. Notably, geographical diversity and strategic location of its timberlands offer higher pricing power to the company. Robust demand for rural HBU properties is also likely to drive its revenues. The company has upgraded its portfolio through strategic acquisitions and is expected to gain from the recovery in the nation’s housing sector. Nevertheless, an international footprint makes it earnings susceptible to foreign exchange fluctuations. Further, heightening competition and regulatory requirements remain key concerns.”
RYN has been the topic of a number of other reports. ValuEngine lowered shares of Rayonier from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Raymond James set a $32.00 price target on shares of Rayonier and gave the company a buy rating in a research report on Tuesday, January 8th. BMO Capital Markets raised shares of Rayonier from an underperform rating to a market perform rating and set a $28.98 price target on the stock in a research report on Friday, February 8th. Finally, TheStreet lowered shares of Rayonier from a b rating to a c+ rating in a research report on Thursday, February 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $34.25.
RYN traded up $0.22 during trading on Thursday, reaching $29.45. The company’s stock had a trading volume of 297,272 shares, compared to its average volume of 597,072. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.27 and a quick ratio of 2.54. Rayonier has a 1 year low of $26.30 and a 1 year high of $39.73. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 11.33 and a beta of 0.72.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 6th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Rayonier had a return on equity of 6.01% and a net margin of 12.52%. The business had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $157.34 million. During the same period last year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Rayonier will post 0.52 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of RYN. Vanguard Group Inc. increased its holdings in Rayonier by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,755,025 shares of the real estate investment trust’s stock valued at $667,917,000 after purchasing an additional 1,773,986 shares during the last quarter. Vanguard Group Inc increased its holdings in Rayonier by 9.9% in the 3rd quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock valued at $667,917,000 after purchasing an additional 1,773,986 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Rayonier by 2,669.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,418,448 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,367,222 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Rayonier by 31.6% in the 3rd quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock valued at $105,464,000 after purchasing an additional 748,900 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in Rayonier by 21.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,819,250 shares of the real estate investment trust’s stock valued at $95,319,000 after purchasing an additional 506,890 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.
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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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