Rayonier Inc. to Issue Quarterly Dividend of $0.25 (RYN)
Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Friday, October 20th, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, December 29th. This represents a $1.00 annualized dividend and a yield of 3.34%.
Rayonier has decreased its dividend by an average of 18.7% per year over the last three years. Rayonier has a payout ratio of 227.3% 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) opened at 29.92 on Friday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 25.21 and a beta of 0.34. Rayonier has a 52 week low of $25.71 and a 52 week high of $30.18. The firm’s 50-day moving average is $28.96 and its 200 day moving average is $28.63.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The company had revenue of $194.70 million during the quarter, compared to the consensus estimate of $151.50 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. On average, equities research analysts expect that Rayonier will post $0.43 EPS for the current year.
RYN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, August 21st. BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. Finally, BMO Capital Markets downgraded shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research note on Monday, August 14th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.25.
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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.
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