Zacks Investment Research cut shares of Rayonier (NYSE:RYN) from a buy rating to a hold rating in a research report report published on Thursday morning.
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 week’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, the company faces competition from its substitutes and other market players in the timberland sector. Foreign exchange fluctuations add to its woes.”
A number of other analysts have also recently commented on the stock. Royal Bank of Canada reissued a hold rating and set a $29.00 target price on shares of Rayonier in a research note on Wednesday, November 15th. BMO Capital Markets reissued a hold rating and set a $31.00 target price on shares of Rayonier in a research note on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $32.33.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The business had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. research analysts forecast that Rayonier will post 0.65 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookfield Asset Management Inc. grew its stake in Rayonier by 121.2% during the 4th quarter. Brookfield Asset Management Inc. now owns 100,000 shares of the real estate investment trust’s stock valued at $3,163,000 after acquiring an additional 54,800 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Rayonier during the 4th quarter valued at about $2,580,000. Vident Investment Advisory LLC purchased a new stake in Rayonier during the 4th quarter valued at about $374,000. Jane Street Group LLC purchased a new stake in Rayonier during the 4th quarter valued at about $280,000. Finally, LPL Financial LLC grew its stake in Rayonier by 16.2% during the 4th quarter. LPL Financial LLC now owns 10,829 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 1,508 shares in the last quarter. 83.60% of the stock is owned by institutional investors.
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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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