Rayonier (NYSE:RYN) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Rayonier (NYSE:RYN) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01, Briefing.com reports. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The firm had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. During the same quarter in the prior year, the firm earned $0.01 EPS. Rayonier’s revenue for the quarter was down 6.1% on a year-over-year basis.

Rayonier Price Performance

NYSE RYN traded down $0.37 during trading hours on Thursday, reaching $29.42. The company’s stock had a trading volume of 864,273 shares, compared to its average volume of 602,981. The stock has a market cap of $4.37 billion, a PE ratio of 25.46 and a beta of 1.09. Rayonier has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company’s 50-day moving average is $32.52 and its two-hundred day moving average is $31.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.285 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 3.87%. Rayonier’s payout ratio is 97.44%.

Analysts Set New Price Targets

A number of brokerages have commented on RYN. Truist Financial upped their price objective on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada increased their price target on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $34.50.

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.