Rayonier (RYN) Declares $0.28 Dividend
Rayonier said on May 19, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.14 annualized). Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.
At the current share price of $29.97 / share, the stock's dividend yield is 3.80%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.42%, the lowest has been 2.44%, and the highest has been 5.77%. The standard deviation of yields is 0.53 (n=237).
The current dividend yield is 0.72 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.96. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 653 funds or institutions reporting positions in Rayonier. This is a decrease of 14 owner(s) or 2.10% in the last quarter. Average portfolio weight of all funds dedicated to RYN is 0.23%, an increase of 17.09%. Total shares owned by institutions decreased in the last three months by 7.23% to 147,780K shares. 
The put/call ratio of RYN is 0.59, indicating a bullish outlook.
Analyst Price Forecast Suggests 21.39% Upside
As of May 11, 2023, the average one-year price target for Rayonier is 36.38. The forecasts range from a low of 35.35 to a high of $37.80. The average price target represents an increase of 21.39% from its latest reported closing price of 29.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rayonier is 892MM, an increase of 2.99%. The projected annual non-GAAP EPS is 0.63.
What are Other Shareholders Doing?
Price T Rowe Associates holds 16,837K shares representing 11.36% ownership of the company. In it's prior filing, the firm reported owning 16,514K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in RYN by 4.26% over the last quarter.
Jpmorgan Chase holds 8,905K shares representing 6.01% ownership of the company. In it's prior filing, the firm reported owning 9,284K shares, representing a decrease of 4.25%. The firm decreased its portfolio allocation in RYN by 10.55% over the last quarter.
Massachusetts Financial Services holds 8,355K shares representing 5.64% ownership of the company. In it's prior filing, the firm reported owning 8,914K shares, representing a decrease of 6.68%. The firm decreased its portfolio allocation in RYN by 85.78% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 6,531K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 6,633K shares, representing a decrease of 1.56%. The firm decreased its portfolio allocation in RYN by 2.62% over the last quarter.
Impax Asset Management Group holds 5,819K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 5,488K shares, representing an increase of 5.70%. The firm decreased its portfolio allocation in RYN by 0.09% over the last quarter.
Rayonier Background Information
(This description is provided by the company.)
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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.73 million acres), U.S.Pacific Northwest (507,000 acres) and New Zealand (417,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a 'look-through basis', the Company's ownership in the timber fund business equates to approximately 17,000 acres.
Key filings for this company:
This story originally appeared on Fintel.