Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Friday, May 17th, RTT News reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.27 per share by the real estate investment trust on Friday, June 28th. This represents a $1.08 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, June 13th.
Rayonier has increased its dividend payment by an average of 2.0% annually over the last three years. Rayonier has a payout ratio of 156.5% 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 $0.60 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 180.0%.
Shares of RYN stock opened at $30.57 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 2.61 and a debt-to-equity ratio of 0.59. Rayonier has a one year low of $26.30 and a one year high of $39.68. The stock has a market cap of $3.90 billion, a PE ratio of 38.70 and a beta of 0.74.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.10 by $0.09. Rayonier had a net margin of 10.75% and a return on equity of 5.16%. The business had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $184.31 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, analysts anticipate that Rayonier will post 0.53 EPS for the current year.
In other Rayonier news, CFO Mark Mchugh sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $32.62, for a total value of $326,200.00. Following the transaction, the chief financial officer now owns 61,613 shares of the company’s stock, valued at $2,009,816.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.
RYN has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Rayonier from a “hold” rating to a “sell” rating in a report on Monday, March 25th. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a report on Tuesday, April 16th. Finally, Seaport Global Securities initiated coverage on shares of Rayonier in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $31.74 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.91.
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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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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