Shares of Rayonier Inc. (NYSE:RYN) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.72 and last traded at $27.67, with a volume of 118,375 shares traded. The stock had previously closed at $27.53.

Several analysts have issued reports on RYN shares. TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, August 8th.

The company has a market cap of $3.38 billion and a PE ratio of 22.0959. The company’s 50-day moving average is $27.10 and its 200-day moving average is $25.22.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $116.36 million. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts predict that Rayonier Inc. will post $0.38 EPS for the current year.

The business 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 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Wednesday, September 14th.

In related news, VP Shelby L. Pyatt sold 1,500 shares of Rayonier stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.97, for a total value of $40,455.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website.

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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