According to Zacks, “Shares of Rayonier have outperformed its industry, over the past three months. Further, the trend in estimate revisions of 2019 earnings indicate upbeat outlook for the company. Rayonier’s portfolio of timberlands in some of the most productive timber-growing regions of the U.S. South, Pacific Northwest and New Zealand offer the company ample scope for growth. It has upgraded its portfolio through strategic acquisitions and is expected to gain from the recovery in the nation’s housing sector. Further, recent development in biogenetics and cloning bode well for the company. Also, substantial cash flow growth and solid capital structure will likely enable Rayonier to maintain its dividends. However, an international footprint makes it earnings susceptible to foreign exchange fluctuations. Also, heightening competition and regulatory requirements remain key concerns.”
Several other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of Rayonier from a “b” rating to a “c+” rating in a report on Thursday, February 7th. BMO Capital Markets upgraded shares of Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 price objective on the stock in a research report on Friday, February 8th. Finally, Seaport Global Securities started coverage on shares of Rayonier in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $31.74 price objective on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.91.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.09. Rayonier had a net margin of 10.75% and a return on equity of 5.16%. The business had revenue of $191.50 million for the quarter, compared to the consensus estimate of $184.31 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Rayonier will post 0.53 EPS for the current fiscal year.
In other news, CFO Mark Mchugh sold 10,000 shares of Rayonier stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $32.62, for a total transaction of $326,200.00. Following the sale, the chief financial officer now owns 61,613 shares in the company, valued at $2,009,816.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.47% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its position in Rayonier by 7.3% in the third quarter. Federated Investors Inc. PA now owns 108,314 shares of the real estate investment trust’s stock worth $3,662,000 after purchasing an additional 7,415 shares during the last quarter. Vanguard Group Inc increased its position in Rayonier by 9.9% in the third quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after purchasing an additional 1,773,986 shares during the last quarter. State of Alaska Department of Revenue increased its position in Rayonier by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 56,016 shares of the real estate investment trust’s stock worth $1,550,000 after purchasing an additional 1,039 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in Rayonier in the fourth quarter worth $89,000. Finally, Bank of Montreal Can increased its position in Rayonier by 7.3% in the fourth quarter. Bank of Montreal Can now owns 11,223 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
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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