Rayonier Inc. (NYSE:RYN) Plans Special Dividend of $1.40

Rayonier Inc. (NYSE:RYN) declared a special dividend on Tuesday, October 14th, RTT News reports. Investors of record on Friday, October 24th will be given a dividend of 1.40 per share by the real estate investment trust on Friday, December 12th.

Rayonier has a dividend payout ratio of 167.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 stock opened at $25.90 on Tuesday. Rayonier has a twelve month low of $21.84 and a twelve month high of $32.88. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 5.23 and a beta of 0.99. The stock has a fifty day simple moving average of $26.20 and a two-hundred day simple moving average of $24.68. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. On average, analysts predict that Rayonier will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup upped their target price on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and an average target price of $28.00.

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.