Rayonier Inc. (NYSE:RYN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.54 and last traded at $26.53, with a volume of 133,505 shares changing hands. The stock had previously closed at $26.26.

The stock’s 50 day moving average is $25.82 and its 200 day moving average is $23.52. The firm has a market capitalization of $3.25 billion and a price-to-earnings ratio of 76.75.

Rayonier (NYSE:RYN) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $134.80 million for the quarter, compared to analyst estimates of $127.95 million. Rayonier’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. On average, analysts expect that Rayonier Inc. will post $0.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Tuesday, June 14th.

Several institutional investors have recently modified their holdings of RYN. ProShare Advisors LLC raised its position in shares of Rayonier by 10.4% in the fourth quarter. ProShare Advisors LLC now owns 56,119 shares of the real estate investment trust’s stock worth $1,246,000 after buying an additional 5,295 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Rayonier by 24.4% in the fourth quarter. Advisors Asset Management Inc. now owns 64,344 shares of the real estate investment trust’s stock worth $1,428,000 after buying an additional 12,613 shares during the last quarter. Glacier Peak Capital LLC purchased a new position in shares of Rayonier during the fourth quarter worth $1,454,000. Liberty Mutual Group Asset Management Inc. raised its position in shares of Rayonier by 40.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 75,220 shares of the real estate investment trust’s stock worth $1,670,000 after buying an additional 21,588 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Rayonier by 24.7% in the fourth quarter. First Trust Advisors LP now owns 84,705 shares of the real estate investment trust’s stock worth $1,880,000 after buying an additional 16,776 shares during the last quarter.

Rayonier Inc (Rayonier) is a timberland real estate investment trust (REIT). As of December 31, 2014, the Company owned, leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres), United States Pacific Northwest (372,000 acres) and New Zealand (451,000 gross acres, or 309,000 net plantable acres).

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