Rayonier (NYSE:RYN) Posts Quarterly Earnings Results

Rayonier (NYSE:RYN) posted its earnings results on Wednesday. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01), Briefing.com reports. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Rayonier’s quarterly revenue was down 3.3% compared to the same quarter last year. Rayonier updated its FY24 guidance to $0.36-0.40 EPS and its FY 2024 guidance to 0.360-0.400 EPS.

Rayonier Trading Up 0.3 %

Shares of Rayonier stock traded up $0.09 on Thursday, reaching $31.56. 509,873 shares of the company’s stock were exchanged, compared to its average volume of 594,180. The company has a market capitalization of $4.70 billion, a P/E ratio of 31.47 and a beta of 1.05. Rayonier has a 52 week low of $27.40 and a 52 week high of $35.29. The firm’s 50-day moving average is $31.52 and its two-hundred day moving average is $30.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.285 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.61%. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

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

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.