Rayonier Inc. (NYSE:RYN) to Issue $0.26 Quarterly Dividend

Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Monday, February 23rd. Shareholders of record on Tuesday, March 17th will be paid a dividend of 0.26 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, March 17th.

Rayonier has increased its dividend by an average of 0.2%annually over the last three years. Rayonier has a payout ratio of 167.7% indicating that 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 $0.68 per share next year, which means the company may not be able to cover its $1.09 annual dividend with an expected future payout ratio of 160.3%.

Rayonier Stock Down 3.1%

Shares of NYSE:RYN traded down $0.71 during trading on Monday, hitting $21.95. The company’s stock had a trading volume of 2,866,453 shares, compared to its average volume of 3,229,725. Rayonier has a fifty-two week low of $21.06 and a fifty-two week high of $28.31. The business has a 50 day moving average price of $22.71 and a two-hundred day moving average price of $23.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.39 and a current ratio of 3.26. The company has a market capitalization of $3.54 billion, a PE ratio of 7.20 and a beta of 0.98.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm had revenue of $117.50 million during the quarter, compared to analyst estimates of $108.71 million. During the same period last year, the business posted $0.24 earnings per share. Rayonier’s revenue was down 24.4% compared to the same quarter last year. As a group, research analysts expect that Rayonier will post 0.55 EPS for the current fiscal year.

Institutional Trading of Rayonier

Several hedge funds and other institutional investors have recently made changes to their positions in RYN. Allworth Financial LP raised its holdings in Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 829 shares in the last quarter. Hartford Financial Management Inc. acquired a new position in Rayonier during the 3rd quarter worth approximately $31,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Rayonier during the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 627 shares in the last quarter. Finally, Caldwell Trust Co purchased a new position in shares of Rayonier in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.