Rayonier (NYSE:RYN) Issues Quarterly Earnings Results

Rayonier (NYSE:RYN) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03, Zacks reports. The firm had revenue of $565.60 million during the quarter, compared to the consensus estimate of $406.98 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%. The business’s revenue for the quarter was up 218.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Rayonier Price Performance

NYSE:RYN traded up $1.34 during mid-day trading on Thursday, reaching $21.51. The stock had a trading volume of 3,125,460 shares, compared to its average volume of 3,057,188. The firm has a 50 day moving average price of $19.43 and a two-hundred day moving average price of $20.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. Rayonier has a one year low of $17.71 and a one year high of $24.82. The stock has a market capitalization of $6.40 billion, a P/E ratio of 47.79 and a beta of 0.88.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a $0.26 dividend. The ex-dividend date is Thursday, December 17th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s payout ratio is 231.11%.

Trending Headlines about Rayonier

Here are the key news stories impacting Rayonier this week:

• Positive Sentiment: Rayonier reported adjusted Q3 EPS of $0.13, topping the $0.10 consensus estimate, while revenue of $565.6 million also exceeded expectations. Adjusted EBITDA increased 27%, with the PotlatchDeltic assets contributing to growth. Zacks earnings article
• Positive Sentiment: The company increased its share-repurchase authorization by $300 million, signaling capacity for additional shareholder returns, though an authorization does not guarantee purchases. Share repurchase announcement
• Negative Sentiment: Despite beating estimates, EPS was down from $0.32 a year earlier. Rayonier also expects lower lumber prices ahead, which could weigh on future results. Quarterly results and outlook

Insider Activity

In other news, EVP Mark Bridwell sold 5,318 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the transaction, the executive vice president owned 131,661 shares in the company, valued at $2,658,235.59. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 6,219 shares of company stock valued at $124,088 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RYN has been the topic of a number of recent analyst reports. Seaport Research Partners reissued a “buy” rating and set a $30.00 price target on shares of Rayonier in a research report on Thursday, October 8th. Royal Bank Of Canada dropped their target price on Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, October 16th. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Citigroup cut their target price on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Truist Financial cut their target price on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus price target of $22.80.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.