Rayonier (NYSE:RYN) Issues Earnings Results

Rayonier (NYSE:RYN) posted its earnings results on Wednesday. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03, Zacks reports. The firm had revenue of $565.60 million for the quarter, compared to analysts’ expectations of $406.98 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The company’s revenue was up 218.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share.

Rayonier Trading Up 3.2%

NYSE RYN traded up $0.63 on Wednesday, hitting $20.25. The company’s stock had a trading volume of 3,643,030 shares, compared to its average volume of 3,681,037. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. Rayonier has a 1-year low of $17.71 and a 1-year high of $24.82. The company’s 50-day moving average is $19.43 and its 200 day moving average is $20.93. The firm has a market cap of $6.02 billion, a PE ratio of 44.99 and a beta of 0.88.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, December 17th. Rayonier’s dividend payout ratio is 231.11%.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of research reports. Royal Bank Of Canada dropped their price target on Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, October 16th. Seaport Research Partners restated a “buy” rating and set a $30.00 price objective on shares of Rayonier in a research report on Thursday, October 8th. Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Truist Financial dropped their target price on Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Finally, Citigroup cut their price target on Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.80.

Key Stories Impacting Rayonier

Here are the key news stories impacting Rayonier this week:

• Positive Sentiment: Rayonier earned adjusted EPS of $0.13, beating the $0.10 consensus, and revenue of $565.6 million exceeded estimates of $407.0 million. Revenue rose 218.6% year over year, with the addition of PotlatchDeltic assets contributing to growth. Rayonier tops Q3 earnings and revenue estimates
• Positive Sentiment: The company increased its share-repurchase authorization by $300 million, signaling capacity to return more capital to shareholders and potentially supporting demand for the shares. Rayonier increases share-repurchase authorization
• Neutral Sentiment: Adjusted EBITDA rose 27%, with the PotlatchDeltic assets contributing to the increase. This points to stronger operating scale, though growth partly reflects the expanded asset base. Rayonier Q3 EBITDA and lumber-price outlook
• Negative Sentiment: EPS declined from $0.32 a year earlier to $0.13, and Rayonier expects lower lumber prices ahead, which could pressure future results. Rayonier Q3 EBITDA and lumber-price outlook

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president owned 131,661 shares in the company, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,219 shares of company stock worth $124,088 in the last quarter. 0.85% of the stock is currently owned by insiders.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.