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

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, July 18th, RTT News reports. Investors of record on Tuesday, September 16th will be paid a dividend of 0.2725 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 16th.

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 Stock Performance

Shares of RYN stock opened at $26.31 on Friday. The stock has a market capitalization of $4.06 billion, a P/E ratio of 5.31 and a beta of 1.01. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $25.10 and its 200 day moving average is $24.88. Rayonier has a 12 month low of $21.84 and a 12 month high of $32.88.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $95.30 million. During the same period in the prior year, the company posted $0.02 EPS. Rayonier’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Rayonier will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on RYN shares. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Citigroup increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Finally, Royal Bank Of Canada increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.