Rayonier Inc. (RYN) to Issue Quarterly Dividend of $0.27 on March 31st

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Tuesday, March 17th will be paid a dividend of 0.27 per share by the real estate investment trust on Tuesday, March 31st. This represents a $1.08 annualized dividend and a yield of 3.63%.

Rayonier has increased its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Rayonier has a dividend payout ratio of 263.4% meaning 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 $0.46 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 234.8%.

Shares of RYN opened at $29.72 on Friday. The business’s 50 day moving average is $30.97 and its 200 day moving average is $29.54. The company has a market capitalization of $3.83 billion, a PE ratio of 65.82 and a beta of 0.93. Rayonier has a 12-month low of $25.83 and a 12-month high of $33.10. The company has a current ratio of 0.83, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $178.80 million for the quarter, compared to the consensus estimate of $193.18 million. Rayonier had a return on equity of 3.76% and a net margin of 8.32%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. Equities research analysts predict that Rayonier will post 0.42 earnings per share for the current year.

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “hold” rating on shares of Rayonier in a research note on Sunday, February 9th. Citigroup lifted their price objective on Rayonier from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. DA Davidson raised Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, November 1st. Finally, Raymond James reduced their price objective on Rayonier from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Rayonier has a consensus rating of “Hold” and an average target price of $31.79.

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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