Rayonier Inc. (NYSE:RYN) to Issue Quarterly Dividend of $0.26

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Monday, February 23rd. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.26 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, March 17th.

Rayonier has raised its dividend payment by an average of 0.2%per year over the last three years. Rayonier has a payout ratio of 167.7% 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 Price Performance

Shares of RYN traded down $0.71 on Monday, reaching $21.95. The stock had a trading volume of 2,866,453 shares, compared to its average volume of 3,229,725. Rayonier has a twelve month low of $21.06 and a twelve month high of $28.31. The firm has a market capitalization of $3.54 billion, a PE ratio of 7.20 and a beta of 0.98. The firm has a 50-day moving average of $22.71 and a 200 day moving average of $23.86. The company has a quick ratio of 3.39, a current ratio of 3.26 and a debt-to-equity ratio of 0.38.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $117.50 million for the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.Rayonier’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts expect that Rayonier will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Rayonier

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in Rayonier by 213.7% in the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 829 shares during the last quarter. Hartford Financial Management Inc. purchased a new position in shares of Rayonier during the 3rd quarter worth about $31,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier in the fourth quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 627 shares during the period. Finally, Caldwell Trust Co purchased a new stake in Rayonier in the second quarter valued at approximately $39,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.