Rayonier Inc. (NYSE:RYN) Expected to Earn Q2 2024 Earnings of $0.13 Per Share

Rayonier Inc. (NYSE:RYN) – Analysts at Zacks Research decreased their Q2 2024 earnings estimates for Rayonier in a research note issued on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.14. The consensus estimate for Rayonier’s current full-year earnings is $0.47 per share. Zacks Research also issued estimates for Rayonier’s Q1 2025 earnings at $0.12 EPS, FY2025 earnings at $0.55 EPS and Q1 2026 earnings at $0.14 EPS.

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada raised their target price on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $34.50.

Rayonier Price Performance

NYSE:RYN opened at $29.48 on Thursday. Rayonier has a 52 week low of $24.84 and a 52 week high of $35.29. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 26.32 and a beta of 1.09. The firm’s 50-day simple moving average is $31.05 and its 200 day simple moving average is $31.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.08 and a current ratio of 2.46.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $168.10 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.285 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.87%. Rayonier’s dividend payout ratio (DPR) is currently 101.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CENTRAL TRUST Co increased its stake in shares of Rayonier by 5.5% in the 1st quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 336 shares in the last quarter. M&T Bank Corp increased its stake in shares of Rayonier by 4.4% in the 4th quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 344 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of Rayonier by 1.0% in the 4th quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock valued at $1,289,000 after acquiring an additional 363 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Rayonier by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock valued at $5,694,000 after acquiring an additional 437 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Rayonier by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock valued at $2,815,000 after acquiring an additional 439 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

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.