Rayonier (NYSE:RYN) Issues Earnings Results

Rayonier (NYSE:RYN) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.13 EPS 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 analyst estimates of $406.98 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. The company’s revenue was up 218.6% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS.

Rayonier Price Performance

RYN traded up $0.63 during trading on Wednesday, hitting $20.25. 3,643,030 shares of the stock traded hands, compared to its average volume of 3,681,037. Rayonier has a twelve month low of $17.71 and a twelve month high of $24.82. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 44.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The business has a 50 day moving average price of $19.43 and a 200 day moving average price of $20.93.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, December 17th. Rayonier’s dividend payout ratio (DPR) is 231.11%.

Insiders Place Their Bets

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the sale, the executive vice president owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 6,219 shares of company stock worth $124,088 in the last three months. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RYN shares. Seaport Research Partners reiterated a “buy” rating and set a $30.00 target price on shares of Rayonier in a research report on Thursday, October 8th. Truist Financial decreased their price target on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Citigroup dropped their price target on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. 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. Finally, Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Rayonier currently has an average rating of “Hold” and a consensus price target of $22.80.

Rayonier News Summary

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

Rayonier Company Profile

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.