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Last $23.26 USD
Change Today +0.04 / 0.17%
Volume 552.8K
As of 3:11 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

rayonier inc (RYN) Snapshot

Open
$23.15
Previous Close
$23.22
Day High
$23.26
Day Low
$22.86
52 Week High
09/8/14 - $34.70
52 Week Low
08/26/15 - $21.89
Market Cap
2.9B
Average Volume 10 Days
1.4M
EPS TTM
$0.47
Shares Outstanding
125.9M
EX-Date
09/14/15
P/E TM
48.9x
Dividend
$1.00
Dividend Yield
4.55%
Current Stock Chart for RAYONIER INC (RYN)

rayonier inc (RYN) Related Businessweek News

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rayonier inc (RYN) Details

Rayonier Inc. operates as an investment arm of Rayonier TRS Operating Company. Rayonier, Inc. engages in the sale and development of real estate and timberland management, as well as in the production and sale of cellulose fibers in the United States, New Zealand, and Australia. The company operates in four segments: Timber, Real Estate, Performance Fibers, and Wood Products. Timber segment owns, leases, or manages timberlands and sells standing timber at auction to third parties, as well as sells delivered logs. Real Estate segment sells medium and large tracts of land with infrastructure. This segment holds development and rural properties primarily in the southeast United States. Performance Fibers segment manufactures cellulose specialties that are used principally in acetate textile fibers, cigarette filters, rigid packaging, LCD screens, photographic film, impact-resistant plastics, high-tenacity rayon yarn, pharmaceuticals, cosmetics, detergents, food casings, and food products; and absorbent materials that are used in disposable baby diapers, feminine hygiene products, incontinence pads, convalescent bed pads, industrial towels and wipes, and nonwoven fabrics. Wood Products segment primarily manufactures and sells dimension lumber used for residential and industrial construction applications. In addition, Rayonier involves in trading and exporting logs, lumber, and wood panel products. As of December 31, 2005, it owned, leased, or managed approximately 2.5 million acres of timberland and real estate. The company has a joint venture with RREEF Infrastructure to own and manage timber lands in New Zealand. Rayonier has elected to be treated as a real estate investment trust (REIT) for federal income tax purposes and would not be subject to federal income tax on its REIT income that it distributes to its shareholders. The company, formerly known as Rainier Pulp & Paper Company, was founded in 1926. Rayonier is headquartered in Jacksonville, Florida.

320 Employees
Last Reported Date: 03/2/15
Founded in 1926

rayonier inc (RYN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $559.4K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $17.2K
Senior Vice President of Real Estate & Public...
Total Annual Compensation: $465.0K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $251.4K
Chief Accounting Officer
Total Annual Compensation: $369.7K
Compensation as of Fiscal Year 2014.

rayonier inc (RYN) Key Developments

Rayonier Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015

Rayonier Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net loss attributable to company of $1.5 million, or $0.01 per share, against income of $16.4 million, or $0.12 per share, in the prior year quarter. Pro-forma net income was $0.0 million, or $0.00 per share against $8.1 million, or $0.06 per share, in the prior year period. Adjusted EBITDA was $33.1 million for the second quarter of 2015 against $70.2 million in the prior year period. Sales were $115.8 million against $163.1 million a year ago. Operating income was $6.5 million against $37.6 million a year ago. Loss from continuing operations before income taxes was $17.6 million against income of $3.2 million a year ago. Loss from continuing operations was $2.9 million or $0.01 per diluted share against $4.0 million or $0.30 per diluted share a year ago. Pro forma operating income was at $37.6 million against $8.0 million reported last year. Adjusted EBITDA was below last quarter and the prior year quarter, reflecting lower income in Pacific Northwest and New Zealand Timber segment, as well as lower income in real estate segment due to the timing of closings and the absence of any significant nonstrategic Timberland sales. Net debt was $661 million. For the first six months of 2015, net income attributable to company was $16.2 million, or $0.13 per share, against $57.8 million, or $0.44 per share in the prior year period. Pro-forma net income was $17.8 million, or $0.14 per share, against $18.5 million, or $0.14 per share, in the prior year period. Adjusted EBITDA was $94.6 million for the first six months of 2015 against $113.7 million in the prior year period. Cash provided by operating activities was $85.9 million against $229.1 million in the prior year period, which included $64.0 million in cash flows from discontinued operations. Sales were $256.1 million against $306.3 million a year ago. Operating income was $34.3 million against $52.0 million a year ago. Income from continuing operations before income taxes was $14.6 million against $20.3 million a year ago. Income from continuing operations was $15.3 million or $0.13 per diluted share against $14.4 million or $0.11 per diluted share a year ago. Capital expenditures were $26.1 million against $33.6 million a year ago. Pro forma operating income was at $35.9 million against $52.0 million reported last year. The company expects a comparatively strong third quarter 2015 based on the company's current pipeline.

Rayonier Announces Closing of $550 Million Credit Facilities

Rayonier Inc. announced that it has entered into a credit agreement with CoBank, ACB, as administrative agent, and a syndicate of Farm Credit institutions and other commercial banks to provide $550 million of new credit facilities, including a five-year $200 million revolving credit facility and a nine-year $350 million term loan facility. The new credit facilities will be used to refinance the company's existing revolving credit facility and senior exchangeable notes (due in August 2015), as well as fund an anticipated capital infusion into the company's New Zealand joint venture (the "Matariki JV" or the "JV") for repayment of JV indebtedness. As an eligible Farm Credit System loan, the term loan facility will allow Rayonier to receive annual patronage payments, which should lower the company's net effective interest cost. The company has entered into an interest rate swap transaction to fix the cost of the term loan facility over its nine-year term. Based on the swap rate, the company's current leverage ratio and the pricing grid, the all-in fixed-rate cost of the term loan facility (net of estimated patronage payments) is expected to be approximately 3.3% and the floating-rate cost of the revolving credit facility will be LIBOR + 1.25%. The remaining proceeds of the term loan facility will be used to fund repayment of the company's 4.50% senior exchangeable notes maturing August 2015 (approximately $131 million), to fund repayment of amounts outstanding under the company's existing revolving credit facility (approximately $45 million), to pay transaction fees and expenses (approximately $2 million), and for cash and general corporate purposes (approximately $12 million). In order to provide timing flexibility with respect to the Matariki JV recapitalization, the term loan facility provides that proceeds can be drawn in up to two advances for up to eight months post-closing. Pro forma for the transactions described above, the company anticipates having the full $350 million outstanding under the term loan facility and nothing outstanding under the revolving credit facility.

Rayonier Inc. Announces Dividend for the Third Quarter 2015, Payable on September 30, 2015

Rayonier Inc. announced that the company’s board of directors has declared a third quarter cash dividend of $0.25 per common share. The dividend is payable on September 30, 2015 to shareholders of record on September 16, 2015.

 

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Industry Analysis

RYN

Industry Average

Valuation RYN Industry Range
Price/Earnings 50.4x
Price/Sales 5.1x
Price/Book 2.0x
Price/Cash Flow 49.1x
TEV/Sales 3.4x
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