Research Analysts Set Expectations for Rayonier Inc.’s Q1 2024 Earnings (NYSE:RYN)

Rayonier Inc. (NYSE:RYNFree Report) – Seaport Res Ptn lowered their Q1 2024 earnings per share estimates for Rayonier in a research report issued on Friday, February 2nd. Seaport Res Ptn analyst M. Weintraub now forecasts that the real estate investment trust will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.08. The consensus estimate for Rayonier’s current full-year earnings is $0.42 per share. Seaport Res Ptn also issued estimates for Rayonier’s Q2 2024 earnings at $0.13 EPS and FY2024 earnings at $0.46 EPS.

Rayonier (NYSE:RYNGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The firm had revenue of $467.40 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter last year, the firm posted $0.11 earnings per share.

A number of other equities research analysts have also recently commented on RYN. StockNews.com cut Rayonier from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Truist Financial raised their target price on Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada raised their target price on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

Get Our Latest Analysis on RYN

Rayonier Trading Up 1.4 %

Shares of Rayonier stock opened at $33.13 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.72 and a current ratio of 2.40. Rayonier has a 52 week low of $24.84 and a 52 week high of $36.18. The stock has a 50 day moving average price of $32.13 and a two-hundred day moving average price of $30.35. The stock has a market capitalization of $4.91 billion, a PE ratio of 28.32 and a beta of 1.05.

Institutional Trading of Rayonier

Hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new stake in Rayonier during the third quarter worth $26,000. Neo Ivy Capital Management bought a new stake in Rayonier during the second quarter worth $51,000. Fifth Third Bancorp lifted its holdings in Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 880 shares during the period. Signaturefd LLC lifted its holdings in Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,617 shares during the period. Finally, Point72 Middle East FZE bought a new stake in Rayonier during the fourth quarter worth $82,000. 82.75% of the stock is currently owned by institutional investors.

Rayonier Cuts Dividend

The firm also recently declared a special dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, December 28th. Rayonier’s dividend payout ratio (DPR) is currently 97.44%.

About Rayonier

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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, 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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Earnings History and Estimates for Rayonier (NYSE:RYN)

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