Rayonier Inc. - RYN STOCK NEWS

Rayonier has sold the rights to manage two timber funds, Fund III and Fund IV, along with its co-investment stake, to BTG Pactual’s Timberland Investment Group for $35.9 million. This transaction involves approximately 110,000 acres of SFI-certified timberland in the U.S. Pacific Northwest, with Rayonier’s ownership on a “look-through” basis equating to 11,000 acres. Rayonier retains a 20% stake in Fund II, comprising 31,000 acres, which will be liquidated. The sale aims to simplify operations and allocate capital to strategic priorities, reflecting a favorable outcome for shareholders.

Rayonier plans to release its second quarter 2021 earnings after market close on August 4, 2021. A conference call and live audio webcast will take place at 10:00 a.m. (EDT) on August 5, 2021, to discuss the results. Supplemental materials and access to the live audio webcast will be available on the Rayonier website. As of March 31, 2021, Rayonier owned or leased approximately 2.7 million acres of timberlands primarily in the U.S. and New Zealand, solidifying its position as a leader in timberland real estate investment trust.

Rayonier (NYSE: RYN) has announced that President and CEO David Nunes will present at Nareit’s REITweek: 2021 Investor Conference on June 8 at 10:15 a.m. ET. The virtual conference can be accessed via the Investor Relations section of Rayonier’s website. After the live event, a replay of the presentation will be available on the site. Rayonier is a prominent timberland real estate investment trust, owning or leasing approximately 2.7 million acres of timberlands across the U.S. and New Zealand as of March 31, 2021.

Rayonier (NYSE:RYN) has declared a second quarter cash dividend of $0.27 per common share, set for payment on June 30, 2021, to shareholders of record by June 16, 2021. Additionally, a cash distribution of $0.27 per operating partnership unit has been announced, also payable on June 30, 2021. The company owns or leases approximately 2.7 million acres of timberlands in the U.S. South, U.S. Pacific Northwest, and New Zealand, solidifying its position as a leading timberland REIT.

Rayonier Inc. (NYSE:RYN) announced a public offering of $450 million senior notes due 2031, bearing an interest rate of 2.750%. The notes will be priced at 99.195% of their face value, maturing on May 17, 2031. Proceeds from the offering will primarily be used to repay $250 million of a term loan and potentially refinance existing senior notes due 2022. The offering, expected to close on May 17, 2021, is managed by J.P. Morgan and Credit Suisse among others. Rayonier operates significant timberland assets across the U.S. and New Zealand.

Rayonier reported Q1 net income of $10.8 million ($0.08 per share) on revenues of $191.4 million, down from $25.9 million ($0.20 per share) on $259.1 million in Q1 2020. Pro forma EBITDA rose 47% to $69.5 million, driven by gains in New Zealand and Pacific Northwest Timber segments. Southern Timber saw a 5% EBITDA decline, impacting overall revenues with harvest volumes down 18%. Operating cash flow improved to $53.9 million. The FY outlook remains optimistic due to anticipated increases in real estate activity and robust timber demand.

Rayonier Inc. (NYSE:RYN) is set to report its Q1 2021 earnings after market close on May 5, 2021. A conference call and audio webcast will follow on May 6 at 10:00 a.m. EDT to discuss the financial results. Investors can access the call by dialing provided numbers or via the company website, where a replay will be available afterward. Rayonier operates as a timberland real estate investment trust, managing approximately 2.7 million acres of timberlands across the U.S. and New Zealand, enhancing its business footprint in key timber-growing regions.

Rayonier (NYSE:RYN) has published its inaugural Carbon Report, highlighting its forestry operations' positive net carbon impact. In 2019, these operations sequestered approximately 5.7 million metric tons of CO₂ equivalents, with a total storage of 732 million metric tons in timberlands. The report details carbon storage, annual sequestration, and emissions associated with forestry operations. CEO David Nunes emphasized the company's commitment to sustainability and transparency, promoting its role in combating climate change. The report can be accessed on Rayonier's responsible stewardship webpage.

Rayonier announced a first quarter cash dividend of $0.27 per common share, payable on March 31, 2021, to shareholders of record on March 17, 2021. Additionally, a cash distribution of $0.27 per operating partnership unit was declared, also payable on the same date. Rayonier is a leading timberland real estate investment trust, owning approximately 2.7 million acres of timberlands across the U.S. and New Zealand, highlighting its strong position in the softwood timber market.