Rayonier Inc. (NYSE:RYN) to Issue Quarterly Dividend of $0.27

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, July 19th, RTT News reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.27 per share by the real estate investment trust on Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 3.67%.

Rayonier has increased its dividend by an average of 2.0% annually over the last three years. Rayonier has a dividend payout ratio of 156.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Rayonier to earn $0.60 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 180.0%.

Shares of RYN traded up $0.23 during trading hours on Friday, hitting $29.46. The stock had a trading volume of 324,642 shares, compared to its average volume of 474,597. The company has a quick ratio of 2.61, a current ratio of 2.95 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $30.04. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 37.28 and a beta of 0.78. Rayonier has a 1-year low of $26.30 and a 1-year high of $37.11.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.09. The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $184.31 million. Rayonier had a return on equity of 5.16% and a net margin of 10.75%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. On average, research analysts forecast that Rayonier will post 0.53 EPS for the current fiscal year.

In related news, CFO Mark Mchugh sold 10,000 shares of Rayonier stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $32.62, for a total value of $326,200.00. Following the sale, the chief financial officer now owns 61,613 shares of the company’s stock, valued at approximately $2,009,816.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

A number of equities analysts have issued reports on RYN shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Seaport Global Securities began coverage on Weyerhaeuser in a research note on Tuesday, April 2nd. They set a “buy” rating for the company. Finally, TheStreet upgraded Transcontinental Realty Investors from a “d+” rating to a “c+” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.91.

Rayonier Company Profile

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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Dividend History for Rayonier (NYSE:RYN)

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