Rayonier Inc. (NYSE:RYN) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 2,740,000 shares, a decrease of 13.6% from the November 14th total of 3,170,000 shares. Based on an average daily trading volume, of 491,700 shares, the short-interest ratio is presently 5.6 days. Currently, 2.1% of the company’s stock are sold short.

Several research firms have recently weighed in on RYN. DA Davidson raised Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, November 1st. ValuEngine raised Rayonier from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.55.

Shares of RYN stock traded up $0.30 on Friday, hitting $31.79. 529,581 shares of the stock were exchanged, compared to its average volume of 431,854. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $4.09 billion, a P/E ratio of 90.34 and a beta of 0.85. The business has a 50-day moving average of $30.06 and a 200 day moving average of $28.99. Rayonier has a fifty-two week low of $25.83 and a fifty-two week high of $32.92.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.08 annualized dividend and a dividend yield of 3.40%. Rayonier’s dividend payout ratio is currently 136.71%.

Several hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in Rayonier by 2.1% during the second quarter. Swiss National Bank now owns 240,900 shares of the real estate investment trust’s stock valued at $7,299,000 after purchasing an additional 5,000 shares during the last quarter. Bank of America Corp DE boosted its position in Rayonier by 5.5% during the second quarter. Bank of America Corp DE now owns 509,849 shares of the real estate investment trust’s stock valued at $15,449,000 after purchasing an additional 26,443 shares during the last quarter. Aperio Group LLC boosted its position in Rayonier by 1.5% during the second quarter. Aperio Group LLC now owns 24,475 shares of the real estate investment trust’s stock valued at $742,000 after purchasing an additional 353 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Rayonier during the second quarter valued at approximately $16,929,000. Finally, California Public Employees Retirement System boosted its position in Rayonier by 40.3% during the third quarter. California Public Employees Retirement System now owns 329,871 shares of the real estate investment trust’s stock valued at $9,302,000 after purchasing an additional 94,695 shares during the last quarter. 87.29% of the stock is owned by institutional investors.

About Rayonier

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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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