Rayonier Inc. (RYN) to Distribute Quarterly Dividend of $0.26 on September 30th

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Thursday, July 16th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.26 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Rayonier has raised its dividend payment by an average of 0.2%annually over the last three years. Rayonier has a dividend 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 $0.60 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 173.3%.

Rayonier Stock Performance

RYN stock opened at $20.25 on Monday. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.06. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 45.01 and a beta of 0.87. The business’s fifty day simple moving average is $21.26 and its two-hundred day simple moving average is $21.04. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 272.3% on a year-over-year basis. Analysts predict that Rayonier will post 0.44 earnings per share for the current year.

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the completion of the transaction, the executive vice president owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Rayonier

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. purchased a new position in Rayonier in the fourth quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 627 shares in the last quarter. Bayban purchased a new stake in shares of Rayonier during the first quarter worth approximately $36,000. Whittier Trust Co. raised its holdings in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 969 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Rayonier in the first quarter worth approximately $51,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier Inc (NYSE: RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier’s timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.