Rayonier Inc. (RYN) Hits New 1-Year High at $27.27
Shares of Rayonier Inc. (NYSE:RYN) reached a new 52-week high during trading on Thursday . The stock traded as high as $27.27 and last traded at $27.20, with a volume of 102,473 shares. The stock had previously closed at $26.92.
The company has a 50 day moving average of $26.21 and a 200-day moving average of $23.98. The company has a market cap of $3.34 billion and a PE ratio of 78.90.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The business had revenue of $134.80 million for the quarter, compared to analysts’ expectations of $127.95 million. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Rayonier Inc. will post $0.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, September 14th.
Other hedge funds have made changes to their positions in the company. ProShare Advisors LLC increased its stake 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 period. Advisors Asset Management Inc. increased its stake in 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 valued at $1,428,000 after buying an additional 12,613 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in 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 valued at $1,670,000 after buying an additional 21,588 shares during the last quarter. First Trust Advisors LP increased its stake in 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 valued at $1,880,000 after buying an additional 16,776 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in Rayonier during the fourth quarter valued at $2,220,000.
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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