Rayonier Inc. (RYN) To Go Ex-Dividend on September 16th

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, July 22nd, RTT News reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.285 per share by the real estate investment trust on Monday, September 30th. This represents a $1.14 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Monday, September 16th.

Rayonier has a dividend payout ratio of 211.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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

NYSE RYN opened at $32.03 on Friday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.60 and a beta of 1.04. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. Rayonier has a twelve month low of $24.84 and a twelve month high of $35.29. The stock has a fifty day simple moving average of $29.86 and a 200 day simple moving average of $30.64.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. Sell-side analysts expect that Rayonier will post 0.4 EPS for the current year.

Insider Buying and Selling at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RYN. Truist Financial dropped their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th.

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.