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

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.24%.

Rayonier has a payout ratio of 178.1% meaning 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 $0.53 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 Performance

Shares of NYSE:RYN opened at $25.72 on Thursday. The business has a 50-day moving average of $27.38 and a two-hundred day moving average of $29.65. The firm has a market capitalization of $3.83 billion, a PE ratio of 24.26 and a beta of 1.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. Rayonier has a 12 month low of $24.88 and a 12 month high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly 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 net margin of 15.84% and a return on equity of 2.95%. As a group, research analysts forecast that Rayonier will post 0.38 earnings per share for the current year.

Rayonier announced that its Board of Directors has authorized a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.