Rayonier Inc. (NYSE:RYN) to Issue $0.27 Quarterly Dividend

Key Points

• Rayonier Inc. has announced a quarterly dividend of $0.27 per share, with the ex-dividend date set for September 16th and payment scheduled for September 30th.
• The company has a high dividend payout ratio of 167.7%, indicating reliance on its balance sheet for dividend coverage, which raises concerns regarding sustainability.
• Analysts have recently upgraded Rayonier's stock rating and adjusted its price target to $27.00, with a consensus rating of "Hold" from multiple analysts.

Rayonier Inc. (NYSE:RYN - Get Free Report) declared a quarterly dividend on Friday, July 18th, RTT News reports. Investors of record on Tuesday, September 16th will be given a dividend of 0.2725 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, September 16th.

Rayonier has a payout ratio of 167.7% indicating that 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 $0.68 per share next year, which means the company may not be able to cover its $1.09 annual dividend with an expected future payout ratio of 160.3%.

Rayonier Price Performance

Shares of RYN stock traded down $0.31 during trading on Friday, hitting $25.72. The company had a trading volume of 410,299 shares, compared to its average volume of 1,095,345. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The firm has a market capitalization of $3.96 billion, a P/E ratio of 5.20 and a beta of 1.01. The stock's 50-day moving average price is $25.32 and its 200 day moving average price is $24.87. Rayonier has a one year low of $21.84 and a one year high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $106.50 million during the quarter, compared to analysts' expectations of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts expect that Rayonier will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on RYN shares. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada raised their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, Citigroup raised their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $28.00.

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.