Rayonier Inc. reports developments as a land resources REIT that owns, manages and invests in timberlands in the U.S. South and U.S. Northwest. Company news centers on timber harvest activity, wood products operations, rural land sales, residential and commercial real estate development, and land-based solutions such as carbon capture, solar, mineral and communications uses.
Recurring updates include quarterly and annual operating results, dividends on common shares and operating partnership units, capital-structure actions, governance matters and executive changes. Rayonier's completed merger of equals with PotlatchDeltic is part of its current corporate history, alongside disclosures about sawmills, an industrial-grade plywood mill, forest certification, portfolio management and investor presentations.
Rayonier (NYSE:RYN) announced the tax treatment for its $1.08 per share dividend paid in 2021, distributed quarterly as $0.27 on March 31, June 30, September 30, and December 31. All distributions are classified as 100% Capital Gain Distribution for tax purposes. Shareholders are advised to consult tax advisers regarding their specific tax treatment, as the current classification may not predict future distributions.
Rayonier Inc. (NYSE:RYN) will release its fourth quarter 2021 earnings on February 2, 2022, post-market. A conference call is scheduled for February 3, 2022, at 10:00 a.m. (EST), to discuss the results. Investors can access the call via telephone or through a live audio webcast on www.rayonier.com. A replay will be available after the call until March 2, 2022. Rayonier manages approximately 2.6 million acres of timberland across the U.S. and New Zealand.
Rayonier reported third quarter net income of $75.8 million ($0.53 per share) on revenues of $364.7 million, a significant improvement from a net loss of $0.8 million in the same quarter last year. Adjusted EBITDA was $114.6 million, up 71% year-over-year. The results included gains from timberland dispositions and debt extinguishment. Year-to-date cash from operations reached $277.4 million, leading to available cash for distribution of $203.9 million. Outlook for full-year net income is set between $148 to $152 million.
Rayonier (NYSE:RYN) has declared a $0.27 per share cash dividend for Q4, payable on December 31, 2021, to shareholders of record on December 17, 2021. Additionally, a cash distribution of $0.27 per operating partnership unit has also been announced for the same dates. As of June 30, 2021, Rayonier manages approximately 2.7 million acres of timberlands in the U.S. and New Zealand, highlighting its strong position in the timberland investment sector.
Rayonier Inc. (NYSE:RYN) will release its Q3 2021 earnings on November 3, 2021, after market close. Following this, a conference call will be held on November 4 at 10:00 a.m. EDT to discuss the results, accessible via their website. The company manages approximately 2.7 million acres of timberlands in the U.S. and New Zealand as of June 30, 2021. Further details, including a replay of the call, will be available on their website.
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Rayonier reported Q2 net income of $57.2 million ($0.41 per share) on revenues of $291.4 million, a significant rise from $1.7 million ($0.01 per share) in Q2 2020. The results included $30.3 million from a Large Disposition but were offset by losses from a cash flow hedge and debt modifications. Pro forma net income was $31.0 million ($0.22 per share), up from $15.2 million ($0.11 per share) a year earlier. Adjusted EBITDA surged to $95.3 million, reflecting improved performance across timber segments. Year-to-date operating cash flow rose to $164.6 million.
Rayonier Inc. (NYSE:RYN) declared a third quarter cash dividend of $0.27 per common share, payable on September 30, 2021, to shareholders of record on September 16, 2021. Additionally, the board announced a cash distribution of $0.27 per limited partnership unit, also payable on September 30, 2021. Rayonier is a timberland real estate investment trust managing approximately 2.7 million acres of timberlands in the U.S. and New Zealand, highlighting its strong position in the timber industry.
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.