Rayonier Inc. to Issue Quarterly Dividend of $0.29 (NYSE:RYN)

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, October 21st, RTT News reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.285 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.14 annualized dividend and a yield of 3.57%.

Rayonier has a dividend payout ratio of 211.1% 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 $0.54 per share next year, which means the company may not be able to cover its $1.14 annual dividend with an expected future payout ratio of 211.1%.

Rayonier Stock Performance

RYN opened at $31.95 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $31.04 and its 200-day moving average is $30.28. The stock has a market cap of $4.76 billion, a PE ratio of 31.95 and a beta of 1.04. Rayonier has a twelve month low of $24.84 and a twelve month high of $35.29.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s revenue was down 16.9% on a year-over-year basis. On average, analysts predict that Rayonier will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RYN shares. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Truist Financial upped their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.