Rayonier Inc. Announces Quarterly Dividend of $0.25 (NYSE:RYN)

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, July 21st, RTT News reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.25 per share by the real estate investment trust on Friday, September 29th. This represents a $1.00 annualized dividend and a yield of 3.42%.

Rayonier has decreased its dividend payment by an average of 18.7% per year over the last three years. Rayonier has a dividend payout ratio of 285.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Rayonier to earn $0.48 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 208.3%.

Rayonier (RYN) traded up 0.21% during trading on Friday, hitting $29.21. 283,270 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $28.72 and a 200 day moving average price of $28.33. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 15.55 and a beta of 0.35. Rayonier has a 52-week low of $25.24 and a 52-week high of $29.86.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Rayonier had a net margin of 27.54% and a return on equity of 4.10%. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $159.31 million. During the same quarter last year, the business earned $0.11 EPS. Rayonier’s revenue for the quarter was up 38.4% compared to the same quarter last year. On average, equities research analysts predict that Rayonier will post $0.37 earnings per share for the current year.

In other news, Director Andrew G. Wiltshire bought 6,650 shares of the stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average price of $27.87 per share, for a total transaction of $185,335.50. Following the acquisition, the director now owns 26,006 shares of the company’s stock, valued at $724,787.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

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Several research firms have recently issued reports on RYN. BMO Capital Markets restated a “buy” rating and issued a $31.00 target price on shares of Rayonier in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.80.

About Rayonier

Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.

Dividend History for Rayonier (NYSE:RYN)

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