Shares of Rayonier Inc. REIT (RYN) Exceed 52-Week High

November 18, 2021 10:33:00

Shares of Rayonier Inc. REIT (NYSE:RYN) traded at a new 52-week high today of $41.09. Approximately 56,000 shares have changed hands today, as compared to an average 30-day volume of 416,000 shares.

Rayonier owns and manages timberland. Among the largest private landowners in the United States, the firm owns 2.2 million acres. It also owns land in New Zealand. Rayonier is structured as a real estate investment trust and is not required to pay federal income taxes on earnings generated by timber harvest activities.

In the past 52 weeks, shares of Rayonier Inc. REIT have traded between a low of $27.01 and a high of $41.09 and is now at $40.56, which is 50% above that low price.

Rayonier Inc. REIT (NYSE:RYN) is currently priced 75.1% above its average consensus analyst price target of $10.10.

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