Rayonier Inc. (RYN) Hits New 12-Month High at $27.66
Rayonier Inc. (NYSE:RYN) reached 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. The stock had previously closed at $27.41.
RYN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded 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 upgraded Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th.
The company’s 50 day moving average price is $27.02 and its 200 day moving average price is $25.01. The company has a market capitalization of $3.32 billion and a P/E ratio of 21.70.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 EPS for the quarter, topping 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. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that Rayonier Inc. will post $0.38 earnings per share for the current fiscal 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Wednesday, September 14th.
In other Rayonier news, VP Shelby L. Pyatt sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $26.97, for a total transaction of $40,455.00. Following the completion of the transaction, the vice president now owns 6,170 shares in the company, valued at $166,404.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A hedge fund recently raised its stake in Rayonier stock. Advisors Asset Management Inc. boosted its stake in Rayonier Inc. (NYSE:RYN) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.05% of Rayonier worth $1,428,000 as of its most recent SEC filing.
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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