Rayonier Inc. (RYN) AI Stock Analysis

Rayonier operates as a timberland real estate investment trust positioned in softwood timber regions across the United States and New Zealand. As of December 31, 2020, its portfolio spanned approximately 2.7 million acres of timberlands, consisting of 1.73 million acres in the U.S. South, 507,000 acres in the U.S. Pacific Northwest, and 417,000 acres in New Zealand. The company also manages three private equity timber funds totaling around 141,000 acres, with a look-through ownership interest of approximately 17,000 acres. Headquartered in Jacksonville, Florida, Rayonier sustainably harvests timber and engages in timberland real estate transactions, acquisitions, and leases.

Revenue moved from $1.11B in FY2021 to $909.1M in FY2022, before rising to $1.06B in FY2023 and $1.26B in FY2024. In FY2025, revenue fell 61.6% to $484.5M, while net margin reached 97.9% and net income totaled $474.4M, resulting in an EPS of $0.56. Over the 5-year period from FY2020 to FY2025, revenue posted a compound annual growth rate of -10.8%. Over the trailing twelve months, revenue was $968.3M with an operating margin of 11.8% and EPS of $0.46. For the latest quarter ending June 30, 2026, quarterly revenue grew 272.1% year-over-year, while quarterly earnings declined 97.6%.

As of June 30, 2026, Rayonier held $411.8M in cash and short-term investments alongside total debt of $1.89B, resulting in net debt of $1.48B. Shareholders' equity was $5.21B against total assets of $7.44B, reflecting a current ratio of 3.22 and a debt-to-equity ratio of 0.36. In FY2025, operating cash flow stood at $256.7M and free cash flow was $206.7M. Capital allocation in FY2025 included $50.0M for capital expenditures, $70.5M for share buybacks, and $292.1M for dividends paid.

Trading at a last close of $18.99, Rayonier holds a market capitalization of $5.68B and an enterprise value of $7.35B. The stock trades at a trailing P/E of 41.3x and a forward P/E of 32.7x, both above the median of its US-listed Real Estate peers at 21.6x and 23.5x, respectively. Its EV-to-EBITDA multiple of 28.1x also trades at a premium to the peer median of 14.7x. Over the past year, Rayonier shares fell 14.6%, underperforming the S&P 500 (SPY) return of 16.8%, while its 5-year return of -29.8% lagged the index return of 83.0%.

Rayonier pays a quarterly dividend with an annualized forward rate of $1.04, representing a dividend yield of 5.48%. The company has paid dividends for 33 consecutive years, achieving a 5-year annualized dividend growth rate of 18.2%. Its payout ratio stands at 1.5%, and the last ex-dividend date occurred on September 16, 2026.

Rayonier holds 2 Strong Buy ratings, 0 Buy ratings, 4 Hold ratings, and 0 Sell or Strong Sell ratings. The consensus mean price target is $23.67, representing a 24.6% upside compared to the last close of $18.99. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $1.51B and EPS of $0.42, representing an EPS decline of 25.5%. For the following year, 5 analysts project revenue of $1.64B and EPS of $0.57. Rayonier beat EPS estimates in all 4 of its last 4 quarters, with the next earnings date set for November 4, 2026.

This page is an AI-written research summary of Rayonier Inc. (RYN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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