Rayonier Inc. Declares Quarterly Dividend of $0.26 (NYSE:RYN)

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, May 15th. Investors of record on Tuesday, June 16th will be given a dividend of 0.26 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 16th.

Rayonier has raised its dividend by an average of 0.2%annually over the last three years. Rayonier has a payout ratio of 160.0% 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 research analysts expect Rayonier to earn $0.56 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 185.7%.

Rayonier Price Performance

RYN opened at $21.86 on Friday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 7.24 and a beta of 0.88. Rayonier has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The company’s 50-day moving average price is $20.86 and its 200 day moving average price is $21.60. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s quarterly revenue was up 233.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, sell-side analysts expect that Rayonier will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research note on Thursday, April 16th. Citigroup decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Truist Financial upped their target price on shares of Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets decreased their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and an average target price of $24.80.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.