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RYN $33.24

RYN target price
33.24
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Rayonier
Type
Public
Traded as NYSE: RYN
S&P 400 Component
Industry Timber
Founded 1926
Headquarters 1 Rayonier Way
Yulee, Florida 32097
Key people
Richard Kincaid – Chairman,
David L. Nunes – President and CEO,
Mark McHugh – SVP and Chief Financial Officer
Products Timber, real estate
Revenue Increase US$788 million (2016)
Net income
Increase US$212 million (2016)
Number of employees
325 (240 in US)
Website Rayonier.com
Footnotes / references

Rayonier Inc, headquartered in Jacksonville, Florida, is a timberland real estate investment trust ("REIT") with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. Its core business segments are timber and real estate. As of September 30, 2016, the company owned or leased approximately 2.3 million acres of timberlands located in the U.S. South (1.9 million acres) and U.S. Pacific Northwest (379,000 acres). The company also has a 77% ownership interest in Matariki Forestry Group, a joint venture, that owns or leases approximately 436,000 acres (299,000 net plantable acres) of timberlands in New Zealand.

Rayonier was founded in 1926 as the Rainier Pulp and Paper Company in Shelton, Washington, with an office in San Francisco, California. Its name was inspired by Mount Rainier in Washington state. Its first mill opened the next year in Shelton and Port Angeles, Washington, on the Olympic Peninsula. The mill used Tsuga heterophylla (western hemlock) trees to create a premium bleached paper pulp. In 1931, Rainier Pulp and Paper began working with the DuPont chemical company to produce hemlock pulp for the manufacture of rayon. Two additional pulp mills were constructed and began operation in the state of Washington.

Rainier Pulp and Paper changed its name to Rayonier, a portmanteau of the words rayon and Rainier, in 1937, when it became a publicly traded company. The following year, the company acquired timber stands in the southeastern United States and began construction of a Fernandina Beach, Florida, pulp mill, which began production in 1939.

In 1944, the company moved its offices to New York City. As World War II ended, Rayonier began making large land purchases in the Pacific Northwest. The Rayonier Foundation was created in 1952 to provide assistance to charitable, civic and education organizations in the communities where Rayonier did business.

Rayonier opened international sales offices in Europe and Asia during 1954. That same year, another pulp mill in the southeast was constructed at Jesup, Georgia. High demand prompted the facility to double its capacity by 1957.

ITT purchased the company in 1968 and the name changed to ITT Rayonier.

The Jesup mill grew larger in 1974, becoming the largest pulp mill on earth.

Company headquarters were moved again in 1978; this time to Stamford, Connecticut.

Diplomatic relations with China were restored in 1979. The following year, Rayonier received orders for pulp and logs. It took almost five years to receive permission to open an office in Beijing in 1985.

A log-trading office was opened in New Zealand during 1988. The New Zealand government sold Rayonier 250,000 acres (1,000 km) of timberland in 1992.

The company was spun off from ITT in 1994 with the company name reverting to Rayonier and shares again traded on the New York Stock Exchange.

Rayonier purchased 969,000 acres (3,920 km) of timberland in Florida, Georgia and Alabama in 1999, then relocated the corporate offices to Jacksonville, Florida, to be closer to company employees and properties.

Rayonier converted to a real estate investment trust (REIT) on January 1, 2004. TerraPointe LLC was established in 2005 to manage properties with development potential.

The 2006 purchase of 228,000 acres (920 km) in six states brought the company's total of land owned, leased or managed to 2,600,000 acres (11,000 km) in the U.S. and New Zealand.

In March 2008, the company purchased 56,300 acres (228 km) for $215 million in southwest Washington state from Sierra Pacific

In March 2013, the company sold its wood products division, including its mills in Baxley, Swainsboro, and Eatonton, Georgia, to British Columbia-based International Forest Products (Interfor) for $80 million.

In April 2013, the company increased its shareholding in the joint venture Matariki Forestry Group in New Zealand from 26% to 65% for $140 million.

In May 2014, Rayonier named David L. Nunes as post-separation president and CEO for Rayonier.

A class action against members of the former management team by certain shareholders was launched for the period from October 26, 2010, to November 7, 2014, claiming over-harvesting while communicating publicly harvesting below a sustainable rate.

In June 2014, Rayonier spun off its performance fibers business into an independent, publicly traded company, Rayonier Advanced Materials Inc. (NYSE: RYAM). Shareholders of Rayonier received one share of the new Rayonier Advanced Materials company for every three shares of Rayonier on June 27, 2014.

In August 2015, Rayonier announced its ownership in the New Zealand joint venture will increase from 65% to approximately 77%, as part of an anticipated recapitalization of the JV.

In May 2016, Rayonier announced upgrades to it Pacific Northwest timberland portfolio through the acquisition of 61,000 acres of timberlands in western Oregon for $263 million, and a disposition of 55,000 acres comprising predominantly pre-merchantable timber in Washington state for $130 million. The transactions significantly enhance Rayonier's Pacific Northwest portfolio by smoothing the age-class distribution, increasing merchantable timber inventory and increasing both long-term and near-term harvest potential.

In August 2017, Rayonier consolidated its corporate headquarters, real estate, and forest resources offices into a newly constructed, state-of-the-art building in Wildlight, Florida.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-01 Future report Set alerts
Q2 2022 2022-08-03 0.16 0.16
Q1 2022 2022-05-04 0.20 0.20
Q4 2021 2022-02-02 0.01 0.01
Q3 2021 2021-11-03 0.53 0.53
Q2 2021 2021-08-04 0.41 0.41
Q1 2021 2021-05-05 0.08 0.08
Q4 2020 2021-02-03 0.08 0.08
Q3 2020 2020-10-28 0.00 0.00
Q2 2020 2020-08-05 0.11 0.01

Ratings

2016-02-13 Reiterated Rating RBC Capital Hold
2016-02-13 Reiterated Rating Royal Bank Of Canada Hold
2016-02-12 Lower Price Target RBC Capital Sector Perform $23.00 to $22.00
2016-01-29 Upgrade BMO Capital Markets Market Perform to Outperform $27.00 to $26.00
2015-12-04 Downgrade RBC Capital Sell
2015-10-21 Lower Price Target RBC Capital $25.00 to $24.00
2015-08-07 Lower Price Target DA Davidson Buy $31.50 to $30.00
2015-08-07 Reiterated Rating RBC Capital Sector Perform $27.00 to $25.00
2015-08-06 Upgrade Buckingham Research Neutral to Buy $28.00
2015-05-08 Upgrade DA Davidson Neutral to Buy $31.50
2015-02-17 Downgrade RBC Capital Outperform to Sector Perform $30.00 to $27.00
2015-02-13 Downgrade DA Davidson Buy to Neutral
2014-11-20 Upgrade DA Davidson Neutral to Buy
2014-11-17 Upgrade RBC Capital Sector Perform to Outperform $28.00 to $30.00
2014-11-11 Downgrade RBC Capital Mkts Outperform to Sector Perform $37 to $28
2014-11-11 Downgrade Bank of America Neutral to Underperform $36.00 to $22.00
2014-11-11 Downgrade RBC Capital Outperform to Sector Perform $37.00 to $28.00
2014-11-11 Downgrade Bank of America Corp. Neutral to Underperform $36.00 to $22.00
2014-10-10 Upgrade RBC Capital Sector Perform to Outperform $37.00
2014-09-03 Initiated Coverage BMO Capital Markets Market Perform $36.00
2014-08-11 Boost Price Target RBC Capital $35.00 to $37.00
2014-06-30 Downgrade RBC Capital Mkts Outperform to Sector Perform $52 to $37
2014-06-30 Downgrade DA Davidson Buy to Neutral $2.30
2014-06-30 Downgrade RBC Capital Outperform to Sector Perform $52.00 to $37.00
2014-06-23 Downgrade RBC Capital Outperform to Sector Perform
2014-05-12 Lower Price Target DA Davidson Buy $60.00 to $57.00
2014-04-16 Boost Price Target RBC Capital $49.00 to $52.00
2013-12-30 Downgrade Ned Davis Research Neutral to Sell
2013-12-12 Initiated Coverage JPMorgan Chase & Co. Underweight $48.00
2013-11-21 Upgrade Deutsche Bank Sell to Hold $47.00
2013-11-18 Upgrade RBC Capital Sector Perform to Outperform
2013-11-07 Reiterated Rating RBC Capital Sector Perform
2013-10-25 Reiterated Rating RBC Capital Sector Perform $52.00
2013-10-25 Downgrade Bank of America Buy to Neutral $63.00 to $60.00
2013-10-25 Downgrade Raymond James Outperform to Market Perform
2013-10-25 Downgrade Deutsche Bank Hold to Sell $55.00 to $47.00
2013-10-09 Lower Price Target RBC Capital Sector Perform $58.00 to $52.00
2013-06-18 Upgrade DA Davidson Neutral to Buy
2011-12-29 Reiterated Stifel Nicolaus Buy $48 to $51
2011-01-03 Upgrade DA Davidson Neutral to Buy $55 to $62
2016-02-13 Reiterated Rating RBC Capital Hold
2016-02-13 Reiterated Rating Royal Bank Of Canada Hold
2016-02-12 Lower Price Target RBC Capital Sector Perform $23.00 to $22.00
2016-01-29 Upgrade BMO Capital Markets Market Perform to Outperform $27.00 to $26.00
2015-12-04 Downgrade RBC Capital Sell

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
NUNES DAVID L Chief Operating Officer 0.22%  (272264) POPE / RYN /
MARGIOTTA CHARLES SR VP, REAL ESTATE 0.15%  (195536) RYN /
HERMAN MICHAEL R SVP, Gen Counsel & Asst Sec 0.13%  (170177) RYAM / RYN /
Frazier W. Edwin III SR VP, CAO & Corp Sec 0.12%  (150647) RYN /
VANDENNOORT HANS E SR VP & CFO 0.10%  (123601) RYN /
Kriesel Jack M. SVP, Performance Fibers 0.04%  (47415) RYAM / RYN /
McHugh Mark Chief Financial Officer 0.04%  (45268) RYN /
BROWN C DAVID II 0.03%  (42687) CVS / ESI / RYAM / RYN /
Hood Charles H SVP, Public Affairs & Comm 0.03%  (41419) RYAM / RYN /
CORR CHRISTOPHER T SVP, Real Estate 0.03%  (34780) RYN /
KINCAID RICHARD D 0.03%  (33051) BEE / MTN / RYN /
Wilson Nancy L SVP, U.S. Forest Resources 0.02%  (30245) RYN /
Wiltshire Andrew G. 0.02%  (29427) RYN /
Bridwell Mark R Vice President 0.02%  (28624) RYN /
Martin V. Larkin 0.02%  (26745) RYN /
Long Douglas M VP, US Operations 0.02%  (20544) RYN /
Pyatt Shelby L Vice President 0.01%  (18045) RYN /
BOYNTON PAUL G President and CEO 0.01%  (15643) BCO / RYAM / RYN /
Blumberg John A 0.01%  (13162) RYN /
Jones Scott R. 0.01%  (13162) RYN /
Lincoln Blanche L 0.01%  (13162) ETR / RYN /
FRASER DOD A 0.01%  (13162) FST / RYN /
Bush John Ellis 0.01%  (13004) RYN / SWSH / THC /
OSKIN DAVID W 0.01%  (12367) RYN / VRS /
TOWNSEND RONALD 0.01%  (11448) RYAM / RYN /
LANIGAN BERNARD JR 0.01%  (10777) CNX / RT / RYN / TXI /
Gaumond Mark E. 0.01%  (8458) BAH / CLF / RYAM / RYN /
MORGAN THOMAS I 0.01%  (7157) ESI / RYAM / RYN / TECD /
Kiker H. Edwin SVP, Chief Financial Officer 0.01%  (7103) RYN /
MILLER JAMES H 0.01%  (6794) AES / CBI / CCK / LGP / RYAM / RYN /