Rayonier Inc. (RYN)

Rayonier completed its merger with PotlatchDeltic on January 30, 2026, issuing approximately 140.9 million new common shares. In Q3 2025, Rayonier reported an EPS of $0.32, beating estimates by 45.45%, and declared a $1.40 per share special dividend and conducted $30 million of share buybacks. Rayonier's stock has declined by 12.78% over the past six months but experienced a 6.0% gain over the last month. There was also an increase in short interest on February 4, 2026.

Demand for Rayonier's products and services exhibits some seasonality, particularly in its timber and real estate segments. Construction activity impacts sawtimber demand, and timber markets face pressure from mill closures and fluctuating pulpwood pricing. Real estate sales can be strong, but the overall market experiences seasonal fluctuations. Rayonier's land portfolio optimization helps mitigate timber harvesting seasonality by diversifying revenue streams.

Rayonier, Inc. is a timberland REIT based in Wildlight, Florida, focusing on sustainable timberland management, harvesting, real estate development, and sales. The company operates through Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, and Trading segments. Its major products include sawtimber, pulpwood, biomass, and various land sales categories. Rayonier also operates six sawmills and an industrial-grade plywood mill.

Rayonier owns and manages approximately 2.7 million acres of timberlands across the United States and New Zealand. In the U.S., its timberlands are located in the South (1.9 million acres) and the Pacific Northwest (355,000 acres). In New Zealand, it manages approximately 130,000 acres of radiata pine plantations.

Rayonier maintains a strong brand reputation through its commitment to sustainability and responsible land stewardship. The company releases annual Sustainability and Carbon Reports, and is a signatory to The Climate Pledge, committing to net-zero carbon emissions by 2040. Its forestry practices are independently certified to high standards in sustainability. The company acknowledges that its operations are subject to environmental regulations and climate-related risks.

Rayonier Inc. is primarily controlled by institutional investors, holding approximately 96.56% of the shares. Major institutional shareholders include Vanguard Group Inc. and BlackRock, Inc. Individual insiders hold a relatively low direct ownership stake, approximately 0.435% of shares.