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

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, October 21st,RTT News reports. Stockholders of record on Tuesday, December 17th will be paid a dividend of 0.285 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, December 17th.

Rayonier has a dividend payout ratio of 207.3% 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 $0.52 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 219.2%.

Rayonier Stock Performance

RYN stock opened at $28.83 on Friday. The company has a 50 day moving average price of $31.17 and a 200 day moving average price of $30.47. Rayonier has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The stock has a market capitalization of $4.30 billion, a PE ratio of 27.20 and a beta of 1.02.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts forecast that Rayonier will post 0.38 EPS for the current year.

Rayonier declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial lifted their price objective on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note 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.