Rayonier Inc. (NYSE:RYN) Announces Quarterly Dividend of $0.29

Rayonier Inc. (NYSE:RYN - Get Free Report) declared a quarterly dividend on Monday, October 21st, RTT News reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.285 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.14 dividend on an annualized basis and a yield of 3.57%.

Rayonier has a dividend payout ratio of 211.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Rayonier to earn $0.54 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 211.1%.

Rayonier Trading Down 1.3 %

RYN stock traded down $0.41 during midday trading on Monday, reaching $31.95. 285,749 shares of the company traded hands, compared to its average volume of 601,487. Rayonier has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The business has a 50 day moving average of $31.04 and a 200-day moving average of $30.28. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 28.59 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million for the quarter, compared to analysts' expectations of $218.86 million. During the same quarter last year, the company earned $0.05 earnings per share. The company's revenue for the quarter was down 16.9% on a year-over-year basis. As a group, sell-side analysts expect that Rayonier will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RYN. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Truist Financial increased their price target on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th.

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.