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

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, October 21st, RTT News reports. Investors 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 3.61%. The ex-dividend date is Tuesday, December 17th.

Rayonier has a payout ratio of 211.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

NYSE:RYN opened at $31.55 on Wednesday. The firm’s 50-day moving average is $31.10 and its 200-day moving average is $30.28. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 31.55 and a beta of 1.04. 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 has a 52-week low of $24.84 and a 52-week high of $35.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) 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 firm had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue was down 16.9% on a year-over-year basis. Equities research analysts anticipate that Rayonier will post 0.38 earnings per share for the current year.

Insider Buying and Selling at Rayonier

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RYN. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Truist Financial boosted their price target on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th.

About Rayonier

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.