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

Rayonier (NYSE:RYN) released its earnings results 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. The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. 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

NYSE:RYN traded up $0.25 on Thursday, reaching $31.72. The stock had a trading volume of 636,653 shares, compared to its average volume of 594,496. The company has a market capitalization of $4.73 billion, a P/E ratio of 31.47 and a beta of 1.05. The stock has a fifty day moving average price of $31.52 and a 200-day moving average price of $30.30. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. Rayonier has a 1-year low of $27.40 and a 1-year high of $35.29.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, December 17th. Rayonier’s payout ratio is 114.00%.

Insider Transactions at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.