Rayonier (RYN) : Traders are negative on Rayonier (RYN), as it has 2% of short positions outstanding compared to its float. The total shorts have reduced by -203,999 shares, which is a -7.6% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,2,683,977 to 2,479,978 shares. While the daily trading volume of the stock is 375,103, there are 7 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Rayonier (NYSE:RYN): The stock opened at $27.45 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.45 for the day. The stock traded down to $27.22 during the day, due to lack of any buying support eventually closed down at $27.40 with a loss of -0.15% for the day. The stock had closed at $27.44 on the previous day. The total traded volume was 324,042 shares.
In a related news, The officer (VP, General Counsel and CS), of Rayonier Inc, Bridwell Mark R had unloaded 881 shares at $26.12 per share in a transaction on May 27, 2016. The total value of transaction was $23,012. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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 (372,000 acres) and New Zealand (451,000 gross acres, or 309,000 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.