Rayonier Inc. (NYSE:RYN) Announces $0.26 Quarterly Dividend

Key Points

• Rayonier Inc. announced a quarterly dividend of $0.26 per share, with the dividend payable on September 30 to shareholders of record as of September 16. The payout implies an annualized yield of about 4.7%.
• The company’s dividend looks stretched, as Rayonier has a 160% payout ratio and analysts expect it may not fully cover its annual dividend with earnings alone based on projected future results.
• Rayonier recently reported better-than-expected quarterly EPS of $0.07 versus a $0.06 consensus, while revenue grew sharply year over year to $276.79 million.

Rayonier Inc. (NYSE:RYN - Get Free Report) announced a quarterly dividend on Thursday, July 16th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.26 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 16th.

Rayonier has raised its dividend payment by an average of 0.2%per year 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. Equities research 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 Price Performance

Shares of RYN opened at $22.13 on Friday. 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's 50 day moving average is $20.99 and its two-hundred day moving average is $21.53. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.33. The firm has a market capitalization of $6.66 billion, a PE ratio of 7.33 and a beta of 0.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The business had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. During the same period in the prior year, the business posted ($0.02) EPS. The company's revenue for the quarter was up 233.9% on a year-over-year basis. Research analysts anticipate that Rayonier will post 0.36 earnings per share for the current year.

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.

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