RAYONIER INC.
In the published model solve dated 2026-Q2, anchored at $22.00, RAYONIER INC. (RYN) is priced for +1.4% AFFO growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
- At about $20.98 the trust trades near 13x funds from operations and 16x adjusted funds from operations, a price that asks for roughly 0.7% annual growth in cash earnings per share. That is a pace Rayonier has already cleared over its own record, so the bar embedded in the price is low rather than heroic. - The valuation methods cluster tightly around the asset and book-value families. Excess-return and residual-income land near $19, the Graham number near $37, and book value per share is $20.8
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431 institutional managers reported holding RYN in 13F filings for the quarter ended 2026-03-31. 138 opened new positions that quarter. Held by Vanguard Group, BlackRock, Cohen & Steers, among others. On the short side, 11.3M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
RYN's share count grew 83.4% over the past five years even with $16.53M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 4 years straight; the current rate is $2.49 a share annually. Cash returned over the past three years: $658.52M in dividends and $8.11M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at RYN over the trailing three years. Absence is a fact about the company, not a signal. 24 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
RYN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-06 | -2.9% | +3.6% |
| 2023-08-05 | -1.3% | -14.5% |
| 2023-11-04 | +18.4% | +9.7% |
| 2024-02-24 | +4.9% | -9.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
RYN's latest 8-K filings: 2026-08-05 (items 2.02, 9.01); 2026-07-17 (items 5.02, 8.01, 9.01); 2026-05-14 (items 5.07); 2026-05-06 (items 2.02, 9.01); 2026-03-18 (items 4.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.