Rayonier Inc. (RYN) Hits New 52-Week High at $27.56
Rayonier Inc. (NYSE:RYN) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $27.56 and last traded at $27.37, with a volume of 162,744 shares trading hands. The stock had previously closed at $27.30.
A number of research analysts recently commented on the company. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday. TheStreet raised Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th.
The stock’s 50-day moving average price is $26.51 and its 200 day moving average price is $24.41. The company has a market cap of $3.34 billion and a PE ratio of 21.82.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $116.36 million. Rayonier’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts anticipate that Rayonier Inc. will post $0.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Wednesday, September 14th.
Other large investors have modified their holdings of the company. State of Tennessee Treasury Department acquired a new stake in shares of Rayonier during the fourth quarter worth about $2,220,000. Advisors Asset Management Inc. boosted its position 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 worth $1,428,000 after buying an additional 12,613 shares during the period. Marshall Wace LLP purchased a new position in Rayonier during the fourth quarter worth $7,845,000. Finally, First Trust Advisors LP boosted its position 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 worth $1,880,000 after buying an additional 16,776 shares during the period.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.