Stock Research

Rayonier Raises Texas Timberland Ownership, Buys 62.6K Acres for $88M

Posted on December 18, 2012 at 10:37 AM EST

Rayonier (NYSE: RYN ) today announced it has acquired approximately 62,600 acres of timberlands in East Texas. The property, purchased from a private ownership group for $88 million, or $1,406 per acre, brings the company's total ownership in Texas to over 150,000 acres. The timberlands are located principally in Liberty, Polk and Trinity