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Timberland REIT that owns and manages softwood timberlands, primarily in the US South and Pacific Northwest.
Timberland REIT that owns and manages softwood timberlands, primarily in the US South and Pacific Northwest.
Sells logs from trees it has grown, cutting less when markets are weak so the trees keep growing, and sells land worth more for housing or recreation than as forest. The 2020 merger with Pope Resources added Pacific Northwest timberland and a business managing timber funds for outside investors. New Zealand logs go largely to Asia.
Moat: narrow (scale, installed base). Large, well-located timberland acreage near mills is scarce and slow to replicate given multi-decade growth cycles.
Headquarters: Wildlight, Florida, United States · Founded: 1939 · Employees: 285
Size Rayonier (RYN) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $6.45B, the 1009th largest of 3,117 United States companies the cockpit tracks. Shares closed at $21.55 on 6 Nov 2026.
Performance Over six months the shares gained 5.5%, against +1.7% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 12.8% over the last twelve months (peer median +7.4%); the operating margin is 14.9% (peer median 41.5%).
Valuation It trades at 1.23× book value against a peer median of 1.50× (8th cheapest of 21).
Price implies The share price implies a return on equity of about 10.9%; Rayonier delivers 2.0%, so the price asks more than the business earns today.
Credit Rayonier has 1 bond outstanding ($450M), rated BBB by the agencies and trading like BBB at a weighted spread of 108 bp.
Short interest Short interest is 5.0% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $968M | $484M | $988M | $1.06B | $909M |
| Revenue growth | — | -51% | -7% | +16% | — |
| Gross profit | $234M | $158M | $441M | $295M | $222M |
| EBITDA | $331M | $197M | $480M | $469M | $306M |
| Net income | $75.8M | $474M | $359M | $173M | $107M |
| Free cash flow | $243M | $207M | $199M | $217M | $194M |
| Capital expenditure | $70.4M | $50.0M | $62.1M | $81.4M | $74.8M |
| Total debt | $1.89B | $1.06B | $1.06B | $1.46B | $1.61B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Rayonier RYN | $6.45B | +6% | -13% | 2% | 1.23× | 10.9% |
| Weyerhaeuser WY | $15.1B | -10% | -1% | 5% | 1.61× | 13.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RYN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.9% | +8.9% | 2nd highest of 21 |
| 6-month return | +5.5% | +1.7% | 8th highest of 21 |
| Return on equity | 2.0% | 7.7% | 5th lowest of 21 |
| Price / book | 1.23× | 1.50× | 8th cheapest of 21 |
| Trailing P/E | 47.8× | 22.2× | 2nd most expensive of 18 |
| ROE the price implies | 10.9% | 12.8% | 4th least demanding of 21 |
| ROE delivered | 2.0% | 7.7% | 5th lowest of 21 |
| Bond spread | 108 bp | 106 bp | 6th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Rayonier RYN | United States | $6.45B | +6% | -13% | 2% | 1.23× | 10.9% | 2.0% |
| Healthcare Realty Trust HR | United States | $6.50B | -5% | -6% | -2% | 1.56× | 11.9% | -2.0% |
| Essential Properties Realty Trust EPRT | United States | $6.21B | -11% | +21% | 6% | 1.36× | 11.1% | 6.3% |
| Vornado Realty Trust VNO | United States | $6.70B | +11% | +2% | 0% | 1.44× | 17.3% | 0.2% |
| LondonMetric Property LMP.L | United Kingdom | $6.16B | +2% | +17% | 7% | 0.93× | 12.6% | 6.7% |
| Nippon Building Fund 8951.T | Japan | $6.75B | -8% | -21% | 6% | 1.41× | 5.3% | 5.9% |
| GPT GPT.AX | Australia | $6.88B | +11% | -8% | 10% | 0.92× | 11.0% | 10.0% |
| British Land BLND.L | United Kingdom | $5.94B | +17% | +15% | 8% | 0.73× | 11.6% | 7.8% |
| Macerich MAC | United States | $7.04B | +14% | +9% | -14% | 2.50× | 33.9% | -14.5% |
| STAG Industrial STAG | United States | $7.06B | -6% | +9% | 8% | 1.93× | 15.5% | 7.6% |
| First Industrial Realty Trust FR | United States | $7.13B | -14% | +9% | 13% | 2.57× | 20.9% | 13.2% |
| Terreno Realty TRNO | United States | $7.24B | 0% | +18% | 9% | 1.61× | 14.0% | 9.2% |
| Charter Hall CHC.AX | Australia | $7.26B | +14% | -19% | 37% | 18.01× | 213.5% | 36.9% |
| Phillips Edison & PECO | United States | $5.72B | +2% | +7% | 8% | 2.17× | 12.9% | 7.8% |
| Covivio COV.PA | France | $5.64B | -16% | +5% | 8% | 0.59× | 8.2% | 7.9% |
| COPT Defense Properties CDP | United States | $7.43B | +4% | +7% | 11% | 2.42× | 17.3% | 11.2% |
| Land Securities LAND.L | United Kingdom | $7.51B | +20% | +7% | 5% | 0.77× | 11.9% | 5.3% |
| Sabra Health Care REIT SBRA | United States | $5.51B | +1% | +21% | 3% | 1.94× | 13.0% | 2.5% |
| Gecina GFC.PA | France | $5.47B | -8% | +1% | 2% | 0.48× | 6.9% | 1.6% |
| OUTFRONT Media OUT | United States | $5.42B | -9% | +8% | 36% | 7.82× | 77.8% | 36.2% |
| Stockland SGP.AX | Australia | $7.74B | +15% | +15% | 10% | 1.04× | 11.7% | 9.5% |
Rayonier has 1 bond outstanding with $450M face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.67%, a spread of 108 bp over government bonds.