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Rayonier Inc . (NYSE:RYN) stock has touched a 52-week low, reaching a price level of $25.45 USD, signaling a period of significant bearish sentiment for the forestry company. Despite the current market weakness, the company maintains a strong dividend profile with 31 consecutive years of payments and an attractive 11.3% yield. According to InvestingPro analysis, Rayonier demonstrates GOOD financial health with strong liquidity metrics. This latest price point reflects a notable decline in investor confidence over the past year, with Rayonier experiencing a 1-year change of -18.99%. The drop to this year-long low suggests that the company may be facing headwinds, including an expected 30% sales decline this year. As stakeholders and analysts observe this downward trend, the focus now shifts to the company's upcoming strategies to regain its footing in the market. Discover deeper insights and 8 additional key ProTips about Rayonier's outlook with a comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Rayonier Inc. reported on its Q3 2024 performance and future outlook. The company revealed timberland dispositions of 200,000 acres for $495 million, which are expected to increase pro forma cash available for distribution (CAD) per share by 9% and reduce leverage. Adjusted EBITDA for the quarter was $72 million, with a pro forma net income of $18 million, or $0.12 per share. The Southern Timber segment generated $38 million, the Pacific Northwest Timber segment $9 million, and the New Zealand Timber segment $15 million. The Real Estate segment saw an increase in adjusted EBITDA to $20 million. Rayonier revised its full-year adjusted EBITDA guidance to between $275 million and $290 million. Rayonier is optimistic about future opportunities in the real estate market and anticipates higher non-timber income in 2024. The company is also evaluating strategic alternatives for their joint venture stake in New Zealand.
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