Rayonier Inc. (NYSE:RYN) Plans Quarterly Dividend of $0.27

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Rayonier Inc. (NYSE:RYN) declared a quarterly dividend on Friday, October 18th, RTT News reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.27 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.08 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Monday, December 16th.

Rayonier has raised its dividend payment by an average of 0.0% per year over the last three years and has increased its dividend every year for the last 1 years. Rayonier has a payout ratio of 257.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Rayonier to earn $0.47 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 229.8%.

NYSE:RYN traded up $0.05 during trading hours on Monday, hitting $32.59. 344,400 shares of the stock traded hands, compared to its average volume of 406,900. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Rayonier has a 1 year low of $25.83 and a 1 year high of $33.09. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 41.25 and a beta of 0.88. The stock has a 50 day moving average price of $31.58 and a 200 day moving average price of $29.34.

Separately, DA Davidson raised shares of Rayonier from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Rayonier has a consensus rating of “Hold” and a consensus target price of $31.55.

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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Dividend History for Rayonier (NYSE:RYN)

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