Rayonier Inc. (NYSE:RYN) Declares Quarterly Dividend of $0.27

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Wednesday, February 5th, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.2725 per share by the real estate investment trust on Monday, March 31st. This represents a $1.09 annualized dividend and a yield of 3.90%. The ex-dividend date is Monday, March 17th.

Rayonier has a payout ratio of 170.3% 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 $0.68 per share next year, which means the company may not be able to cover its $1.09 annual dividend with an expected future payout ratio of 160.3%.

Rayonier Stock Up 2.5 %

Shares of NYSE:RYN opened at $27.95 on Friday. Rayonier has a one year low of $24.88 and a one year high of $32.05. The company has a 50 day moving average of $26.25 and a 200-day moving average of $29.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 11.84 and a beta of 1.00.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, sell-side analysts forecast that Rayonier will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

RYN has been the topic of a number of research reports. Truist Financial cut their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Wednesday. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price objective on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.00.

Rayonier declared that its Board of Directors has authorized a share buyback plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.