Rayonier (NYSE:RYN) hit a new 52-week high and low during trading on Monday . The company traded as low as $37.00 and last traded at $36.85, with a volume of 322072 shares changing hands. The stock had previously closed at $36.64.
A number of brokerages have commented on RYN. Citigroup began coverage on Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, March 13th. ValuEngine raised Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $30.00 target price on shares of Rayonier in a report on Friday, January 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rayonier currently has a consensus rating of “Hold” and a consensus target price of $34.25.
The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4,729.65, a price-to-earnings ratio of 56.86, a P/E/G ratio of 11.23 and a beta of 0.27.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $165.73 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. equities analysts forecast that Rayonier will post 0.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.71%. Rayonier’s dividend payout ratio is presently 153.85%.
Several hedge funds have recently bought and sold shares of RYN. Paloma Partners Management Co bought a new position in shares of Rayonier in the fourth quarter valued at approximately $12,797,000. Impax Asset Management LTD lifted its holdings in Rayonier by 16.6% during the fourth quarter. Impax Asset Management LTD now owns 1,316,088 shares of the real estate investment trust’s stock worth $41,628,000 after acquiring an additional 187,483 shares during the period. BlackRock Inc. lifted its holdings in Rayonier by 1.4% during the fourth quarter. BlackRock Inc. now owns 12,649,731 shares of the real estate investment trust’s stock worth $400,113,000 after acquiring an additional 178,076 shares during the period. Chicago Equity Partners LLC lifted its holdings in Rayonier by 762.6% during the fourth quarter. Chicago Equity Partners LLC now owns 177,773 shares of the real estate investment trust’s stock worth $5,623,000 after acquiring an additional 157,163 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Rayonier by 14.6% during the fourth quarter. American Century Companies Inc. now owns 769,986 shares of the real estate investment trust’s stock worth $24,355,000 after acquiring an additional 97,897 shares during the period. Institutional investors own 84.24% of the company’s stock.
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Rayonier Company Profile
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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