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

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Thursday, July 16th. Investors of record on Wednesday, September 16th will be given a dividend of 0.26 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, September 16th.

Rayonier has raised its dividend payment by an average of 0.2%annually over the last three years. Rayonier has a payout ratio of 160.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Rayonier to earn $0.56 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 185.7%.

Rayonier Price Performance

RYN stock opened at $22.13 on Friday. The stock’s 50 day moving average price is $20.99 and its 200 day moving average price is $21.53. The firm has a market cap of $6.66 billion, a P/E ratio of 7.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier has a 1 year low of $19.49 and a 1 year high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.Rayonier’s revenue was up 233.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. On average, sell-side analysts expect that Rayonier will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Rayonier

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Rayonier by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after acquiring an additional 444,503 shares during the last quarter. Norges Bank purchased a new position in shares of Rayonier in the 4th quarter worth about $313,806,000. Cohen & Steers Inc. lifted its position in Rayonier by 5.6% during the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after buying an additional 717,021 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Rayonier by 232.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after acquiring an additional 3,947,226 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock valued at $101,563,000 after acquiring an additional 1,463,118 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Company Profile

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.