Rayonier Inc. (RYN) Sets New 1-Year High at $27.27
Shares of Rayonier Inc. (NYSE:RYN) reached a new 52-week high during trading on Thursday . The company traded as high as $27.27 and last traded at $27.20, with a volume of 102,473 shares. The stock had previously closed at $26.92.
The company has a 50 day moving average price of $26.16 and a 200-day moving average price of $23.91. The company has a market cap of $3.33 billion and a PE ratio of 78.72.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The business earned $134.80 million during the quarter, compared to the consensus estimate of $127.95 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts forecast that Rayonier Inc. will post $0.30 EPS for the current year.
The firm 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 $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.68%.
Other hedge funds and institutional investors have bought and sold shares of the company. ProShare Advisors LLC increased its position in Rayonier by 10.4% in the fourth quarter. ProShare Advisors LLC now owns 56,119 shares of the real estate investment trust’s stock worth $1,246,000 after buying an additional 5,295 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in 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 worth $1,428,000 after buying an additional 12,613 shares during the period. Glacier Peak Capital LLC purchased a new stake in Rayonier during the fourth quarter worth $1,454,000. Liberty Mutual Group Asset Management Inc. boosted its stake in Rayonier by 40.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 75,220 shares of the real estate investment trust’s stock worth $1,670,000 after buying an additional 21,588 shares during the period. Finally, First Trust Advisors LP boosted its stake in Rayonier by 24.7% in the fourth quarter. First Trust Advisors LP now owns 84,705 shares of the real estate investment trust’s stock worth $1,880,000 after buying an additional 16,776 shares during the period.
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).