Rayonier Inc. REIT Common Stock (RYN)

FairStock Score: 26/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the asset. Rayonier owns more than four million acres of U.S. timberland plus sawmills, plywood, and real-estate development. That land base can be a durable advantage if managed patiently, because timber is renewable and land can be sold to higher uses. But this is not a smooth compounder. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $276.5M and net income was -$12.4M, or -$0.05 per diluted share. In fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $106.2M and net income was $408.7M, or $2.63 per diluted share, a result that shows how lumpy land and timber gains can be. For FY2025, filed figures show revenue of $483.0M, net income of $474.4M and diluted EPS of $3.03, versus FY2024 revenue of $986.4M, net income of $359.1M and EPS of $2.39. The revenue trend is down sharply, while profitability has been inflated by one-time-looking items. As a REIT, FFO and AFFO are the right measures, but they are not in the data. So I lean on what I have: at the 2026-10-13 close of $18.88, FairStock calculates P/B of 1.08, dividend yield of 5.16%, D/E of 0.36, ROE of 2.02%, ROCE of 1.76%, P/E of 41.04, and EV/EBITDA of 27.18. The balance sheet looks reasonable, the dividend is meaningful, and price is near book, but returns on capital are low and reported earnings quality is noisy. I would need FFO/AFFO and a clearer timberland valuation before calling this a bargain.

In plain English: Rayonier is a timberland owner that also sells land for development and runs wood-product mills. Its reported profits swing sharply because land sales and timber prices are uneven, and the latest quarter shown has only a thin profit margin. At $18.88, the shares are near the bottom of their 52-week range and close to the company’s accounting value, while the dividend payment equals about 5.2% of the share price; without clearer cash-profit figures, it is hard to call the price cheap or expensive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer