Rayonier Inc. (RYN) Reaches New 12-Month High at $27.72
Rayonier Inc. (NYSE:RYN) shares reached a new 52-week high during 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 research analysts have commented on the company. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock 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 firm’s 50-day moving average is $27.13 and its 200 day moving average is $25.24. The company has a market cap of $3.42 billion and a P/E ratio of 22.37.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company earned $132.10 million during the quarter, compared to analysts’ expectations of $116.36 million. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts predict that Rayonier Inc. will post $0.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, September 14th.
In other news, VP Shelby L. Pyatt sold 1,500 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was 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 $166,404.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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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