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

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.2725 per share by the real estate investment trust on Monday, March 31st. This represents a $1.09 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Monday, March 17th.

Rayonier has a payout ratio of 178.1% 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 $0.53 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 215.1%.

Rayonier Stock Up 2.4 %

Shares of Rayonier stock opened at $26.35 on Friday. Rayonier has a one year low of $24.88 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The stock’s 50-day moving average is $27.27 and its 200 day moving average is $29.63. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 24.86 and a beta of 1.03.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. Equities research analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier announced that its Board of Directors has approved a share buyback plan on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RYN shares. Citigroup decreased their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial decreased their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.67.

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.