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Should You Add Rayonier (RYN) to Your Portfolio Right Now?
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Shares of Rayonier Inc. (RYN - Free Report) have outperformed the Zacks categorized Building Products – Wood industry over the past one year. Rayonier’s shares logged in a return of 19.8% against the 8.5% booked by the industry.
This price performance of the Zacks Rank #2 (Buy) stock is backed by a solid estimate revision. The company witnessed its full-year 2016 earnings estimates revising nearly 31.0%, over the last 60 days, to 55 cents. Given its progress on the fundamentals and a robust Zacks Rank, the stock is likely to keep performing well in the quarters ahead.
In fact, the company’s geographic diversity, better pricing power due to favorable demand-supply dynamics and its constant efforts to monetize higher and better use timberlands; bode well for future growth. Further, disciplined acquisitions and recent developments in biogenetics & cloning, which are helping in fast growth of trees, are expected to drive its top line.
Also, in Nov 2016, this Jacksonville, FL-based timber REIT reported a better-than-expected performance for third-quarter 2016. Its pro forma net income per share came in at 33 cents in the quarter, higher than the Zacks Consensus Estimate of 14 cents.
Total sales for the quarter were $171.4 million, up 13% year over year. The Zacks Consensus Estimate for total sales was $154 million. Further, the company’s projected sales growth of 28.1% for 2016 is ahead of the industry’s anticipated growth rate of just 0.8%, signaling brighter days ahead.
Not only that, the company has been a steady performer, having beaten the Zacks Consensus Estimate for earnings per share in each of the past four quarters, with an average beat of 83.8%. Moreover, 2016 EPS is projected to grow at a rate of 37.5%.
Prologis has been a steady performer, having beaten the Zacks Consensus Estimate in each of the trailing four quarters, with an average positive surprise of 3.15%. Its share price is also up 26.0% in the past one year.
For Urban Edge Properties, the expected growth rate for FFO per share is 37.6% for 2016 and 6.3% for 2017. In addition, over the past one year, its share price climbed 19.2%.
Seritage Growth Properties’ current-year FFO per share estimates inched up 0.9% to $2.34 per share, over the past 60 days. Further, its share price is up 7.4% over the past one year.
Note: Funds from operations (“FFO”) a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Zacks' Top 10 Stocks for 2017
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Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
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Should You Add Rayonier (RYN) to Your Portfolio Right Now?
Shares of Rayonier Inc. (RYN - Free Report) have outperformed the Zacks categorized Building Products – Wood industry over the past one year. Rayonier’s shares logged in a return of 19.8% against the 8.5% booked by the industry.
This price performance of the Zacks Rank #2 (Buy) stock is backed by a solid estimate revision. The company witnessed its full-year 2016 earnings estimates revising nearly 31.0%, over the last 60 days, to 55 cents. Given its progress on the fundamentals and a robust Zacks Rank, the stock is likely to keep performing well in the quarters ahead.
In fact, the company’s geographic diversity, better pricing power due to favorable demand-supply dynamics and its constant efforts to monetize higher and better use timberlands; bode well for future growth. Further, disciplined acquisitions and recent developments in biogenetics & cloning, which are helping in fast growth of trees, are expected to drive its top line.
Also, in Nov 2016, this Jacksonville, FL-based timber REIT reported a better-than-expected performance for third-quarter 2016. Its pro forma net income per share came in at 33 cents in the quarter, higher than the Zacks Consensus Estimate of 14 cents.
Total sales for the quarter were $171.4 million, up 13% year over year. The Zacks Consensus Estimate for total sales was $154 million. Further, the company’s projected sales growth of 28.1% for 2016 is ahead of the industry’s anticipated growth rate of just 0.8%, signaling brighter days ahead.
Not only that, the company has been a steady performer, having beaten the Zacks Consensus Estimate for earnings per share in each of the past four quarters, with an average beat of 83.8%. Moreover, 2016 EPS is projected to grow at a rate of 37.5%.
Key Picks
Other favorably placed stocks in the REIT industry include Prologis Inc. (PLD - Free Report) , Urban Edge Properties (UE - Free Report) and Seritage Growth Properties (SRG - Free Report) . All these stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Prologis has been a steady performer, having beaten the Zacks Consensus Estimate in each of the trailing four quarters, with an average positive surprise of 3.15%. Its share price is also up 26.0% in the past one year.
For Urban Edge Properties, the expected growth rate for FFO per share is 37.6% for 2016 and 6.3% for 2017. In addition, over the past one year, its share price climbed 19.2%.
Seritage Growth Properties’ current-year FFO per share estimates inched up 0.9% to $2.34 per share, over the past 60 days. Further, its share price is up 7.4% over the past one year.
Note: Funds from operations (“FFO”) a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>