Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Rayonier Inc. (RYN)

Company Dividend Discount ModelIndustry: REIT - SpecialtySector: Real Estate

Valuation Snapshot

Stable Growth$117.55 - $313.81$180.10
Multi-Stage$80.91 - $88.37$84.58
Blended Fair Value$132.34
Current Price$22.18
Upside496.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.29%-2.47%1.291.091.070.990.940.910.880.820.790.80
YoY Growth--18.01%2.58%7.94%4.90%3.74%3.14%7.64%3.44%-1.67%-51.48%
Dividend Yield--4.63%3.37%3.20%2.40%2.92%3.85%2.77%2.32%2.79%3.25%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)775.61
(-) Cash Dividends Paid (M)237.85
(=) Cash Retained (M)537.76
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)155.1296.9558.17
Cash Retained (M)537.76537.76537.76
(-) Cash Required (M)-155.12-96.95-58.17
(=) Excess Retained (M)382.64440.81479.59
(/) Shares Outstanding (M)155.55155.55155.55
(=) Excess Retained per Share2.462.833.08
LTM Dividend per Share1.531.531.53
(+) Excess Retained per Share2.462.833.08
(=) Adjusted Dividend3.994.364.61
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$117.55$180.10$313.81
Upside / Downside430.00%712.00%1,314.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)775.61826.03879.72936.90997.801,062.661,094.54
Payout Ratio30.67%42.53%54.40%66.27%78.13%90.00%92.50%
Projected Dividends (M)237.85351.33478.56620.85779.61956.391,012.45

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)319.06322.09325.11
Year 2 PV (M)394.69402.21409.80
Year 3 PV (M)465.01478.36491.96
Year 4 PV (M)530.29550.68571.66
Year 5 PV (M)590.78619.31648.94
PV of Terminal Value (M)10,286.2510,783.0811,298.93
Equity Value (M)12,586.0813,155.7213,746.39
Shares Outstanding (M)155.55155.55155.55
Fair Value$80.91$84.58$88.37
Upside / Downside264.81%281.32%298.44%

High-Yield Dividend Screener

« Prev Page 6 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
FFord Motor Company5.53%$0.7463.45%
LCNBLCNB Corp.5.48%$0.8953.03%
PPBIPacific Premier Bancorp, Inc.5.48%$1.3492.42%
VGRVector Group Ltd.5.48%$0.8263.35%
DLXDeluxe Corporation5.43%$1.2166.43%
BAFNBayFirst Financial Corp.5.41%$0.4321.50%
IPGThe Interpublic Group of Companies, Inc.5.41%$1.3388.72%
PEBOPeoples Bancorp Inc.5.39%$1.6256.40%
OKEONEOK, Inc.5.38%$4.0075.29%
BUSEFirst Busey Corporation5.37%$1.2875.92%
OASOasis Petroleum Inc.5.37%$5.8765.40%
EIXEdison International5.36%$3.2639.45%
0R1X.LGeneral Mills, Inc.5.35%$2.4545.62%
FIBKFirst Interstate BancSystem, Inc.5.35%$1.8979.54%
FNCBFNCB Bancorp, Inc.5.33%$0.3651.41%
DHILDiamond Hill Investment Group, Inc.5.31%$9.0552.46%
SLRCSLR Investment Corp.5.31%$0.8249.67%
EPSNEpsilon Energy Ltd.5.30%$0.2491.92%
UVVUniversal Corporation5.28%$2.7862.64%
FLICThe First of Long Island Corporation5.27%$0.6386.64%
AUBAtlantic Union Bankshares Corporation5.22%$1.8576.04%
SAFESafehold Inc.5.20%$0.7145.17%
GAB-PGThe Gabelli Equity Trust Inc. PFD-G5.19%$1.0881.70%
HPQHP Inc.5.19%$1.1543.02%
SOISolaris Oilfield Infrastructure, Inc.5.18%$0.7025.64%
MBINOMerchants Bancorp5.17%$1.2924.09%
0JXQ.LMain Street Capital Corporation5.13%$3.1752.63%
EMNEastman Chemical Company5.12%$3.2954.36%
EMBCEmbecta Corp.5.10%$0.5936.96%
AMAntero Midstream Corporation5.09%$0.9193.18%
CZNCCitizens & Northern Corporation5.09%$1.0257.64%
FMNBFarmers National Banc Corp.5.09%$0.6846.83%
0J66.LHost Hotels & Resorts, Inc.5.08%$0.9084.69%
GLPIGaming and Leisure Properties, Inc.5.07%$2.2582.42%
PFISPeoples Financial Services Corp.5.07%$2.4446.22%
TBBAT&T Inc. 5.35% GLB NTS 665.07%$1.1436.88%
KFRCKforce Inc.5.02%$1.5768.10%
TTPTortoise Pipeline & Energy Fund, Inc.5.02%$2.3920.11%
STAR-PGiStar Inc.4.94%$1.2434.23%
PFSProvident Financial Services, Inc.4.93%$0.9761.13%
UBFOUnited Security Bancshares4.92%$0.4873.45%
DDTDillards Capital Trust I CAP SECS 7.5%4.90%$1.293.46%
SGUStar Group, L.P.4.89%$0.5836.90%
AGRAvangrid, Inc.4.88%$1.7660.70%
KMBKimberly-Clark Corporation4.88%$4.9583.80%
OCFCOceanFirst Financial Corp.4.86%$0.8761.98%
0I0J.LThe Clorox Company4.85%$4.8976.11%
FNLCThe First Bancorp, Inc.4.83%$1.2845.40%
RILYZB. Riley Financial, Inc. 5.25% Senior Notes due 20284.83%$0.5856.91%
BSETBassett Furniture Industries, Incorporated4.82%$0.8089.43%