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

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Monday, March 17th will be paid 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 4.24%.

Rayonier has a payout ratio of 178.1% 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 $0.53 per share next year, which means the company may not be able to cover its $1.14 annual dividend with an expected future payout ratio of 215.1%.

Rayonier Price Performance

RYN stock opened at $25.72 on Thursday. The firm has a 50 day moving average of $27.38 and a 200-day moving average of $29.65. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 24.26 and a beta of 1.03. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. Rayonier has a 12-month low of $24.88 and a 12-month high of $35.29.

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, topping the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. As a group, equities analysts expect that Rayonier will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Citigroup reduced their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial cut their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.67.

Rayonier declared that its board has initiated a stock repurchase program on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Rayonier Company Profile

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.