Rayonier Inc. (NYSE:RYN) Declares Quarterly Dividend of $0.29

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, October 21st, RTT News reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.285 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.14 dividend on an annualized basis and a yield of 3.54%.

Rayonier has a dividend payout ratio of 211.1% meaning 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 $0.54 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 211.1%.

Rayonier Stock Performance

Rayonier stock opened at $32.21 on Monday. Rayonier has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The stock has a market cap of $4.80 billion, a P/E ratio of 28.89 and a beta of 1.04. The firm’s fifty day moving average price is $31.04 and its 200-day moving average price is $30.29.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities research analysts expect that Rayonier will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RYN shares. Truist Financial upped their target price on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.83% of the company’s stock.

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.