Rayonier Inc. (NYSE:RYN) Declares Quarterly Dividend of $0.26

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, May 15th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 0.26 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, June 16th.

Rayonier has raised its dividend payment by an average of 0.2%annually over the last three years. Rayonier has a payout ratio of 160.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Rayonier to earn $0.56 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 185.7%.

Rayonier Price Performance

Shares of RYN opened at $21.86 on Friday. The company has a 50 day moving average price of $20.86 and a 200-day moving average price of $21.60. Rayonier has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The stock has a market capitalization of $6.57 billion, a PE ratio of 7.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue was up 233.9% compared to the same quarter last year. Equities analysts predict that Rayonier will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of analyst reports. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research report on Thursday, April 16th. BMO Capital Markets decreased their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Truist Financial increased their target price on shares of Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rayonier has a consensus rating of “Hold” and a consensus price target of $24.80.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.