Rayonier Declares Quarterly Dividend of $0.25 (RYN)

Rayonier (NYSE:RYN) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Shareholders of record on Friday, March 16th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, March 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, March 15th.

Rayonier has decreased its dividend by an average of 13.2% per year over the last three years. Rayonier has a dividend payout ratio of 185.2% 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 $0.71 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 RYN traded up $0.33 during mid-day trading on Thursday, reaching $35.86. The company had a trading volume of 723,823 shares, compared to its average volume of 778,220. Rayonier has a fifty-two week low of $26.84 and a fifty-two week high of $36.31. The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4,526.98, a PE ratio of 55.17, a price-to-earnings-growth ratio of 10.75 and a beta of 0.28.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The business had revenue of $186.30 million for the quarter, compared to the consensus estimate of $165.73 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. equities research analysts anticipate that Rayonier will post 0.65 earnings per share for the current year.

A number of brokerages have recently commented on RYN. ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday, March 13th. Citigroup began coverage on shares of Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 target price on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $30.00 target price on shares of Rayonier in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.25.

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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, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

Dividend History for Rayonier (NYSE:RYN)

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