Rayonier (RYN) Declares Quarterly Dividend of $0.27

Rayonier (NYSE:RYN) announced a quarterly dividend on Monday, May 21st, RTT News reports. Investors of record on Friday, June 15th will be paid a dividend of 0.27 per share by the real estate investment trust on Friday, June 29th. This represents a $1.08 annualized dividend and a dividend yield of 2.87%. This is a boost from Rayonier’s previous quarterly dividend of $0.25.

Rayonier has decreased its dividend payment by an average of 13.2% per year over the last three years. Rayonier has a dividend payout ratio of 185.2% 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 $0.73 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 137.0%.

Shares of RYN traded up $0.16 on Monday, hitting $37.58. 731,915 shares of the stock traded hands, compared to its average volume of 815,572. The company has a market capitalization of $4.86 billion, a P/E ratio of 57.82, a price-to-earnings-growth ratio of 10.59 and a beta of 0.27. The company has a quick ratio of 2.69, a current ratio of 3.00 and a debt-to-equity ratio of 0.57. Rayonier has a one year low of $27.31 and a one year high of $39.14.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $180.82 million. Rayonier had a net margin of 19.08% and a return on equity of 6.92%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. sell-side analysts expect that Rayonier will post 0.71 EPS for the current year.

Several equities research analysts recently weighed in on RYN shares. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday, February 20th. Citigroup began coverage on shares of Rayonier in a report on Thursday, March 1st. They issued a “neutral” rating and a $37.00 target price on the stock. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Raymond James set a $40.00 target price on shares of Rayonier and gave the stock a “buy” rating in a report on Tuesday, May 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rayonier currently has a consensus rating of “Hold” and a consensus target price of $35.40.

Rayonier Company Profile

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, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

Dividend History for Rayonier (NYSE:RYN)

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