Rayonier Inc. (NYSE:RYN) hit a new 52-week high on Wednesday . The company traded as high as $33.70 and last traded at $33.72, with a volume of 683700 shares traded. The stock had previously closed at $32.98.

RYN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 price objective on shares of Rayonier in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price objective on shares of Rayonier in a research report on Friday, January 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.33.

The firm has a market capitalization of $4,173.52, a PE ratio of 28.98, a price-to-earnings-growth ratio of 10.75 and a beta of 0.38. The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 0.60.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping 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 firm had revenue of $186.30 million for the quarter, compared to analyst estimates of $165.73 million. During the same period last year, the company earned $0.05 EPS. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. sell-side analysts forecast that Rayonier Inc. will post 0.6 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYN. Pictet Asset Management Ltd. raised its stake in shares of Rayonier by 25.7% in the third quarter. Pictet Asset Management Ltd. now owns 2,205,523 shares of the real estate investment trust’s stock worth $63,717,000 after purchasing an additional 451,033 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Rayonier by 54.4% in the third quarter. Prudential Financial Inc. now owns 846,146 shares of the real estate investment trust’s stock worth $24,445,000 after buying an additional 298,040 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Rayonier by 35.6% in the third quarter. Wells Fargo & Company MN now owns 1,060,137 shares of the real estate investment trust’s stock worth $30,627,000 after buying an additional 278,516 shares in the last quarter. Impax Asset Management LTD lifted its position in shares of Rayonier by 20.7% in the third quarter. Impax Asset Management LTD now owns 1,128,605 shares of the real estate investment trust’s stock worth $32,605,000 after buying an additional 193,610 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Rayonier by 5.7% in the second quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock worth $99,289,000 after buying an additional 186,679 shares in the last quarter. Institutional investors own 83.60% of the company’s stock.

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Rayonier Company Profile

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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