Rayonier Inc. (RYN) To Go Ex-Dividend on September 16th

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, July 22nd, RTT News reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.285 per share by the real estate investment trust on Monday, September 30th. This represents a $1.14 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, September 16th.

Rayonier has a payout ratio of 203.6% indicating that 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 $0.56 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 203.6%.

Rayonier Stock Performance

Shares of RYN opened at $29.18 on Wednesday. The stock has a market capitalization of $4.34 billion, a PE ratio of 26.05 and a beta of 1.05. The business’s fifty day moving average price is $29.43 and its 200 day moving average price is $31.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08. Rayonier has a 12-month low of $24.84 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $190.04 million. During the same period in the prior year, the company earned $0.01 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Rayonier will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com lowered Rayonier from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research report on Friday, June 14th. Finally, Truist Financial lowered their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th.

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.