Rayonier (RYN) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.03. The company posted revenue of $132.10 million in the period, compared to analysts expectations of $116.99 million. The company’s revenue was up 14.1% compared to the same quarter last year.
Rayonier closed down -0.38 points or -1.38% at $27.07 with 1,87,209 shares getting traded on Tusday. Post opening the session at $27.35, the shares hit an intraday low of $27.06 and an intraday high of $27.48 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 22, 2016, Rayonier announced a cash dividend of $0.2500. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.
In a different news, on May 31, 2016, Mark R Bridwell (VP, General Counsel and CS) sold 881 shares at $26.12 per share price. According to the SEC, on Feb 17, 2016, Scott R. Jones (director) purchased 19,382 shares at $19.87 per share price. On Feb 17, 2016, David L Nunes (CEO) purchased 10,000 shares at $19.32 per share price, according to the Form-4 filing with the securities and exchange commission.
Rayonier Inc. (Rayonier) is a timberland real estate investment trust (REIT). As of December 31 2014 the Company owned leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres) United States Pacific Northwest (372000 acres) and New Zealand (451000 gross acres or 309000 net plantable acres). In addition the Company is engaged in the trading of logs from New Zealand and Australia to Pacific Rim markets primarily to support New Zealand export operations. The Company operates through five segments: Southern Timber Pacific Northwest Timber New Zealand Timber Real Estate and Trading. The Companys Timber segments own or lease approximately 2.7 million acres of timberlands located in the United States and New Zealand. The Companys Real Estate segments holdings are primarily in the southeastern United States. The Companys Trading segment consists of log trading activities in New Zealand and Australia.