Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, February 23rd, RTT News reports. Investors of record on Friday, March 16th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, March 29th. This represents a $1.00 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, March 15th.
Rayonier has decreased its dividend payment by an average of 13.2% annually over the last three years. Rayonier has a payout ratio of 185.2% indicating that 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 $0.71 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 140.8%.
Shares of Rayonier (RYN) opened at $35.49 on Wednesday. The company has a market capitalization of $4,572.16, a PE ratio of 55.34, a P/E/G ratio of 10.86 and a beta of 0.35. Rayonier has a 1-year low of $26.84 and a 1-year high of $35.94. The company has a current ratio of 2.68, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60.
RYN has been the topic of several research analyst reports. Royal Bank of Canada reissued a “hold” rating and issued a $30.00 price objective on shares of Rayonier in a report on Friday, January 12th. Zacks Investment Research lowered Rayonier from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Citigroup initiated coverage on Rayonier in a report on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.25.
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Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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