Rayonier Inc. (RYN) Hits New 52-Week High at $27.09
Rayonier Inc. (NYSE:RYN)’s share price reached a new 52-week high on Thursday . The stock traded as high as $27.09 and last traded at $26.94, with a volume of 90,395 shares changing hands. The stock had previously closed at $26.89.
The stock has a market capitalization of $3.32 billion and a price-to-earnings ratio of 78.61. The firm’s 50-day moving average is $26.08 and its 200-day moving average is $23.77.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The company earned $134.80 million during the quarter, compared to analyst estimates of $127.95 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Rayonier’s revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate that Rayonier Inc. will post $0.30 EPS 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.69%.
Other institutional investors have modified their holdings of the company. State of Tennessee Treasury Department acquired a new position in shares of Rayonier during the fourth quarter valued at about $2,220,000. Advisors Asset Management Inc. raised its position in shares of 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 valued at $1,428,000 after buying an additional 12,613 shares during the period. Marshall Wace LLP acquired a new position in shares of Rayonier during the fourth quarter valued at about $7,845,000. Principal Financial Group Inc. raised its position in shares of Rayonier by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 395,734 shares of the real estate investment trust’s stock valued at $8,785,000 after buying an additional 5,391 shares during the period. Finally, Glacier Peak Capital LLC acquired a new position in shares of Rayonier during the fourth quarter valued at about $1,454,000.
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).