Rayonier Inc. (NYSE:RYN) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.17 and last traded at $36.12, with a volume of 372351 shares traded. The stock had previously closed at $35.40.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Tuesday, March 13th. Citigroup assumed coverage on Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $30.00 price target on shares of Rayonier in a research note on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.25.
The stock has a market cap of $4,569.58, a P/E ratio of 29.90, a PEG ratio of 10.85 and a beta of 0.35. The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.60.
Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Rayonier had a return on equity of 4.96% and a net margin of 18.64%. The company had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $165.73 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. sell-side analysts predict that Rayonier Inc. will post 0.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.00 annualized dividend and a yield of 2.88%. Rayonier’s dividend payout ratio is currently 86.21%.
A number of hedge funds have recently made changes to their positions in the stock. LPL Financial LLC boosted its stake in Rayonier by 16.2% during the fourth quarter. LPL Financial LLC now owns 10,829 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 1,508 shares in the last quarter. Raymond James & Associates boosted its stake in Rayonier by 4.3% during the fourth quarter. Raymond James & Associates now owns 40,710 shares of the real estate investment trust’s stock valued at $1,288,000 after buying an additional 1,670 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rayonier by 46.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 2,229 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Rayonier by 10.8% during the third quarter. Janney Montgomery Scott LLC now owns 23,078 shares of the real estate investment trust’s stock valued at $667,000 after buying an additional 2,243 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Rayonier by 4.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 57,964 shares of the real estate investment trust’s stock valued at $1,674,000 after buying an additional 2,253 shares in the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.
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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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