Rayonier (NYSE:RYN) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Rayonier (NYSE:RYN) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Briefing.com reports. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. Rayonier’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS.

Rayonier Trading Down 0.2 %

Shares of Rayonier stock traded down $0.06 during trading hours on Friday, hitting $29.36. The company’s stock had a trading volume of 447,270 shares, compared to its average volume of 381,490. The firm has a fifty day moving average of $32.36 and a 200-day moving average of $31.47. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.04 and a current ratio of 2.46. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 26.21 and a beta of 1.09. Rayonier has a twelve month low of $24.84 and a twelve month high of $35.29.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.88%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Analyst Ratings Changes

Several research firms recently commented on RYN. Royal Bank of Canada increased their price target on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. TheStreet raised Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and an average target price of $34.50.

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.