Rayonier Inc. (NYSE:RYN) announced 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 3.37%.
Rayonier has decreased its dividend payment by an average of 18.7% annually 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. Research 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%.
Shares of Rayonier (RYN) opened at 29.67 on Friday. Rayonier has a 52 week low of $25.85 and a 52 week high of $30.18. The company has a market cap of $3.81 billion, a P/E ratio of 25.00 and a beta of 0.34. The firm has a 50-day moving average of $28.98 and a 200 day moving average of $28.64.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the 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 business had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 47.4% on a year-over-year basis. Equities analysts expect that Rayonier will post $0.43 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 price target on shares of Rayonier in a research note on Sunday, October 8th. BMO Capital Markets reissued a “hold” rating and issued a $31.00 price target on shares of Rayonier in a research note on Friday, September 29th. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Rayonier from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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