Rayonier (NYSE:RYN) Announces Earnings Results, Misses Expectations By $0.01 EPS

Rayonier (NYSE:RYN) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01), Briefing.com reports. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same quarter last year, the business earned $0.13 EPS. Rayonier’s revenue for the quarter was down 3.3% compared to the same quarter last year. Rayonier updated its FY24 guidance to $0.36-0.40 EPS and its FY 2024 guidance to 0.360-0.400 EPS.

Rayonier Price Performance

RYN opened at $31.64 on Friday. The firm has a market capitalization of $4.71 billion, a PE ratio of 29.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. The business’s 50-day moving average is $31.54 and its two-hundred day moving average is $30.31. Rayonier has a 1 year low of $27.40 and a 1 year high of $35.29.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is currently 107.55%.

Insider Buying and Selling at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of several recent research reports. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Truist Financial lifted their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

About Rayonier

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.