Rayonier Inc. REIT SVP Sells $248,202 in Stock (RYN)
Rayonier Inc. REIT (NYSE:RYN) SVP Jack M. Kriesel unloaded 5,715 shares of the stock on the open market in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $43.43, for a total transaction of $248,202.45. Following the sale, the senior vice president now directly owns 47,416 shares in the company, valued at approximately $2,059,277. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Rayonier Inc. REIT (NYSE:RYN) traded up 0.27% during mid-day trading on Friday, hitting $44.05. 623,309 shares of the company’s stock traded hands. Rayonier Inc. REIT has a 52-week low of $39.49 and a 52-week high of $60.62. The stock’s 50-day moving average is $42.74 and its 200-day moving average is $49.90. The company has a market cap of $5.560 billion and a P/E ratio of 15.34.
Rayonier Inc. REIT (NYSE:RYN) last announced its earnings results on Monday, January 27th. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.13. The company had revenue of $520.20 million for the quarter, compared to the consensus estimate of $442.36 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts predict that Rayonier Inc. REIT will post $1.96 earnings per share for the current fiscal year.
A number of research firms have recently commented on RYN. Analysts at Ned Davis Research downgraded shares of Rayonier Inc. REIT from a “neutral” rating to a “sell” rating in a research note to investors on Monday, December 30th. Separately, analysts at Zacks downgraded shares of Rayonier Inc. REIT from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, December 25th. They now have a $40.90 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Rayonier Inc. REIT in a research note to investors on Thursday, December 12th. They set an “underweight” rating and a $48.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.15.
Rayonier Inc (NYSE:RYN) is a real estate investment trust (REIT).
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