Rayonier Inc. (RYN) Hits New 1-Year High at $27.09
Rayonier Inc. (NYSE:RYN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.09 and last traded at $26.94, with a volume of 90,395 shares traded. The stock had previously closed at $26.89.
The stock has a 50-day moving average price of $26.02 and a 200 day moving average price of $23.72. The stock has a market cap of $3.30 billion and a P/E ratio of 77.97.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm earned $134.80 million during the quarter, compared to analyst estimates of $127.95 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post $0.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were issued a $0.25 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%.
A number of institutional investors have recently modified their holdings of RYN. Principal Financial Group Inc. raised its position in shares of Rayonier by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 395,734 shares of the real estate investment trust’s stock worth $8,785,000 after buying an additional 5,391 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Rayonier during the fourth quarter worth approximately $7,845,000. State of Tennessee Treasury Department purchased a new position in shares of Rayonier during the fourth quarter worth approximately $2,220,000. 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 in the last quarter. Finally, 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 in 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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