Rayonier Inc. (RYN) Hits New 1-Year High at $31.48
Rayonier Inc. (NYSE:RYN)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $31.48 and last traded at $31.48, with a volume of 246754 shares changing hands. The stock had previously closed at $31.22.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Monday, November 6th. BMO Capital Markets reissued a “hold” rating and issued a $31.00 price target on shares of Rayonier in a report on Thursday, November 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 price target on shares of Rayonier in a report on Sunday, October 8th. Finally, BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rayonier presently has a consensus rating of “Buy” and a consensus target price of $31.25.
The stock has a market capitalization of $4,063.94, a price-to-earnings ratio of 64.33, a PEG ratio of 11.73 and a beta of 0.36. The company has a quick ratio of 1.45, a current ratio of 1.74 and a debt-to-equity ratio of 0.62.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $177.90 million for the quarter, compared to analyst estimates of $144.06 million. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. sell-side analysts forecast that Rayonier Inc. will post 0.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Thursday, December 14th. Rayonier’s payout ratio is 95.24%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Rayonier by 35.6% during the 3rd quarter. Wells Fargo & Company MN now owns 1,060,137 shares of the real estate investment trust’s stock valued at $30,627,000 after purchasing an additional 278,516 shares in the last quarter. Nuance Investments LLC boosted its stake in shares of Rayonier by 12.9% during the 3rd quarter. Nuance Investments LLC now owns 235,717 shares of the real estate investment trust’s stock valued at $6,810,000 after purchasing an additional 26,893 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Rayonier by 6.8% during the 3rd quarter. Legal & General Group Plc now owns 182,060 shares of the real estate investment trust’s stock valued at $5,260,000 after purchasing an additional 11,575 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Rayonier by 22.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 27,890 shares of the real estate investment trust’s stock valued at $806,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Stelac Advisory Services LLC boosted its stake in shares of Rayonier by 32.1% during the 3rd quarter. Stelac Advisory Services LLC now owns 13,447 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 3,267 shares in the last quarter. 82.64% of the stock is currently owned by hedge funds and other institutional investors.
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Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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