Rayonier
Manages timberlands, makes lumber, and develops rural real estate across the United States.
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Profile
Manages timberlands, produces U.S. lumber, and develops rural real estate through Southern Timber, Northwest Timber, Wood Products, and Real Estate. The REIT's post-merger structure combines legacy Rayonier land resources with PotlatchDeltic lumber manufacturing.
Manages timberlands on a sustainable basis under independently certified forestry standards, alongside U.S. lumber manufacturing, rural real estate, and land-based solutions. Southern Timber and Northwest Timber organize the timberland operations, while Wood Products and Real Estate reflect the combined company's expanded operating structure. The four segments replace the legacy standalone-company presentation.
Following the merger with PotlatchDeltic, the business combines legacy Rayonier timberlands and real estate with PotlatchDeltic lumber manufacturing. Its portfolio is U.S.-focused after the planned disposition of the New Zealand joint-venture interest, and the company continues to operate as a land-resources REIT.
Company facts
Categories
Key statistics
Year to date −5.7% · Average volume (30d) 2.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 15, 2026 | Truist Financial | Target | $26 | $24 | ||
| May 19, 2026 | BMO Capital | Reiterate | Market Perform | $25 | ||
| Apr 16, 2026 | RBC Capital | Target | $26 | $24 | ||
| Feb 17, 2026 | RBC Capital | Reiterate | Sector Perform | $25 | $26 | |
| Feb 13, 2026 | Raymond James | Upgrade | Outperform | Strong Buy | $28 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.10 | $0.10 | +0.7% | $374.3M | $396.5M | +5.9% | −2.68% |
| May 6, 2026Q1 FY26 | $0.06 | $0.07 | +16.7% | $280.9M | $276.8M | −1.5% | −3.68% |
| Feb 11, 2026Q4 FY25 | $0.12 | $0.20 | +66.7% | $109.2M | $117.5M | +7.6% | +0.58% |
| Nov 5, 2025Q3 FY25 | $0.23 | $0.32 | +39.1% | $162.3M | $177.5M | +9.4% | +1.59% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $82.9M | $106.5M | $177.5M | $117.5M | $276.8M | $396.5M | |
| Gross profit | −$5.5M | $8.2M | $58.4M | $49.3M | −$9.7M | $75.7M | |
| Operating income | $1.2M | $14.7M | $41.7M | $27.0M | −$45.7M | $34.6M | |
| Net income | −$3.4M | $408.7M | $43.2M | $25.9M | −$12.4M | $19.1M | |
| Diluted EPS | −$0.02 | $2.63 | $0.28 | $0.16 | −$0.08 | $0.12 | |
| Gross margin | -6.7% | 7.7% | 32.9% | 42.0% | -3.5% | 19.1% | |
| Operating margin | 1.4% | 13.8% | 23.5% | 23.0% | -16.5% | 8.7% |
Fiscal years (4-quarter sums)FY21 $1.11B · FY22 $909.1M · FY23 $1.06B · FY24 $1.13B · FY25 $484.5M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $411.8M · Total debt $1.89B · Total assets $7.44B · Shareholders' equity $5.21B
Dividends
Last cut to $0.26 from $0.2725 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 16, 2026 | Jun 16 | Jun 30 | $0.26 | |
| Mar 17, 2026 | Mar 17 | Mar 31 | $0.26 | cut from $0.2725 |
| Dec 10, 2025 | Dec 10 | Dec 31 | $0.2725 | |
| Oct 24, 2025 | Oct 24 | Dec 12 | $1.40 | special dividend |
| Sep 16, 2025 | Sep 16 | Sep 30 | $0.2725 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $0.2725 | |
| Mar 17, 2025 | Mar 17 | Mar 31 | $0.2725 | cut from $0.285 |
| Dec 17, 2024 | Dec 17 | Dec 31 | $0.285 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 154.74M · Float 138.09M · 89.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 29.02M | 18.75% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 24.65M | 15.93% | 13F | Aug 13, 2026 |
| Cohen & Steers, Inc. | 21.94M | 14.18% | 13F | Aug 14, 2026 |
| Norges Bank | 17.51M | 11.31% | 13F | Aug 12, 2026 |
| Price T Rowe Associates Inc /MD/ | 16.26M | 10.51% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 20, 2026 | Wayne Wasechek | officer: EVP and CFO | −2,920 | $21.17 |
| Feb 27, 2026 | Eric J. Cremers | director, officer: Executive Chairman | −169,200 | $21.44 |
| Nov 19, 2025 | Christopher T. Corr | officer: SVP, Real Estate Development | −14,255 | $21.12 |
Peers
- Weyerhaeuser
Largest public overlap in timberlands, wood products, and land solutions
- West Fraser Timber
North American lumber and engineered-wood producer with a direct NYSE listing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rayonier | $20.42 | +0.22% | $3.15B | 42.2 | 34.7 | 3.3 | +272.3% |
| Weyerhaeuser | $23.70 | +0.23% | $17.05B | 35.8 | 56.4 | 2.5 | −0.9% |
| West Fraser Timber | $67.67 | −0.25% | $5.14B | — | 3,768.9 | 0.9 | −7.9% |
| Median | 35.8 | 1,912.6 | 1.7 | −4.4% |