Rayonier Inc. (RYN) Hits New 12-Month High at $27.66
Rayonier Inc. (NYSE:RYN)’s share price hit a new 52-week high on Friday . The company traded as high as $27.66 and last traded at $27.23, with a volume of 80,514 shares traded. The stock had previously closed at $27.41.
A number of brokerages have weighed in on RYN. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, August 8th. TheStreet raised Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th.
The company’s 50 day moving average is $26.98 and its 200-day moving average is $24.96. The firm has a market capitalization of $3.30 billion and a PE ratio of 21.61.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm 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. On average, equities research analysts expect that Rayonier Inc. will post $0.38 earnings per share for the current fiscal year.
The company also recently declared 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 3.65%. The ex-dividend date of this dividend is Wednesday, September 14th.
In other news, VP Shelby L. Pyatt sold 1,500 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $26.97, for a total transaction of $40,455.00. Following the transaction, the vice president now owns 6,170 shares of the company’s stock, valued at approximately $166,404.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Rayonier stock. Advisors Asset Management Inc. boosted its position in Rayonier Inc. (NYSE:RYN) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,344 shares of the real estate investment trust’s stock after buying an additional 12,613 shares during the period. Advisors Asset Management Inc. owned approximately 0.05% of Rayonier worth $1,428,000 at the end of the most recent 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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