Assuming it has the factory 16" wheels, a 265/75-16 will fit fine with a torsion bars turned up just enough to level the truck. The rear will be fine.
On Rangers there is some variation in how the torsion bars are set from the factory. My '99 rode quite high in front and my '02 was so low (stock) that the stock tires rubbed at full lock turning into my parking space at work.