Rayonier Inc. (RYN) to Issue Quarterly Dividend of $0.26 on June 30th

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, May 15th. Stockholders 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 dividend yield of 4.8%. The ex-dividend date is Tuesday, June 16th.

Rayonier has increased its dividend by an average of 0.2%annually over the last three years. Rayonier has a dividend payout ratio of 160.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Up 4.8%

RYN opened at $21.86 on Friday. Rayonier has a 1-year low of $19.49 and a 1-year high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 7.24 and a beta of 0.88. The business has a 50 day moving average of $20.86 and a 200-day moving average of $21.60.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RYN shares. Weiss Ratings cut 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 Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Citigroup cut their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. Finally, BMO Capital Markets cut their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.