Rayonier Inc. Plans Quarterly Dividend of $0.27 (NYSE:RYN)

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Friday, May 16th, RTT News reports. Investors of record on Monday, June 16th will be given a dividend of 0.2725 per share by the real estate investment trust on Monday, June 30th. This represents a $1.09 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Monday, June 16th.

Rayonier has a payout ratio of 167.7% 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 $0.68 per share next year, which means the company may not be able to cover its $1.09 annual dividend with an expected future payout ratio of 160.3%.

Rayonier Stock Down 1.9%

RYN stock opened at $23.41 on Friday. Rayonier has a 12-month low of $22.80 and a 12-month high of $31.29. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 9.92 and a beta of 1.05. The company has a 50 day moving average of $23.99 and a two-hundred day moving average of $26.04.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company had revenue of $82.90 million during the quarter, compared to analysts’ expectations of $152.99 million. During the same quarter in the previous year, the company earned $0.01 EPS. The firm’s quarterly revenue was down 27.1% compared to the same quarter last year. On average, equities analysts anticipate that Rayonier will post 0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RYN shares. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, March 12th. Royal Bank of Canada cut their target price on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Truist Financial cut their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Citigroup cut their price target on shares of Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RYN. United Services Automobile Association acquired a new position in Rayonier in the 1st quarter valued at $250,000. Integrated Wealth Concepts LLC acquired a new position in Rayonier in the 1st quarter valued at $501,000. Royal Bank of Canada grew its stake in Rayonier by 29.6% in the 1st quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after buying an additional 36,344 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Rayonier by 30.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock valued at $15,463,000 after buying an additional 130,985 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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.