Rayonier Inc. (RYN) To Go Ex-Dividend on June 16th

Rayonier Inc. (NYSE:RYN) announced a quarterly dividend on Friday, May 15th. Investors of record on Tuesday, June 16th will be given a dividend of 0.26 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 16th.

Rayonier has raised its dividend payment by an average of 0.2%annually over the last three years. Rayonier has a dividend payout ratio of 160.0% meaning 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 opened at $21.86 on Friday. The company has a fifty day simple moving average of $20.86 and a 200 day simple moving average of $21.60. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 7.24 and a beta of 0.88. Rayonier has a twelve month low of $19.49 and a twelve month high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

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, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to analyst estimates of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business’s revenue was up 233.9% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. Equities research analysts expect that Rayonier will post 0.36 EPS for the current fiscal year.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in shares of Rayonier by 810.5% in the 1st quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 2,383 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Rayonier by 1,150.5% in the 1st quarter. NewEdge Advisors LLC now owns 41,941 shares of the real estate investment trust’s stock worth $865,000 after buying an additional 38,587 shares during the last quarter. Bank of America Corp DE lifted its position in Rayonier by 141.8% in the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock valued at $33,420,000 after purchasing an additional 950,473 shares during the last quarter. Janus Henderson Group PLC lifted its position in Rayonier by 104.0% in the 1st quarter. Janus Henderson Group PLC now owns 133,727 shares of the real estate investment trust’s stock valued at $2,759,000 after purchasing an additional 68,166 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Rayonier by 124,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,498 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

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.