Rayonier Inc. (RYN) To Go Ex-Dividend on March 17th

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Monday, March 17th will be given a dividend of 0.2725 per share by the real estate investment trust on Monday, March 31st. This represents a $1.09 annualized dividend and a yield of 4.14%. The ex-dividend date is Monday, March 17th.

Rayonier has a payout ratio of 178.1% 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 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 Up 2.4 %

Shares of RYN stock opened at $26.35 on Friday. The firm has a market cap of $3.93 billion, a PE ratio of 24.86 and a beta of 1.03. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. Rayonier has a 12 month low of $24.88 and a 12 month high of $35.29. The stock has a 50 day moving average of $27.27 and a 200-day moving average of $29.63.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. On average, equities analysts predict that Rayonier will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Truist Financial reduced their price objective on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and a consensus target price of $29.67.

Rayonier announced that its Board of Directors has authorized a share repurchase plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.