Rayonier Inc. (RYN)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
Rayonier Inc. trades at USD22.15, which is 20% above the USD17.71 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 53 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 47.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Rayonier Inc.
Rayonier Inc. is a land resources real estate investment trust (REIT) with a portfolio comprising over four million acres in the U.S. South and U.S. Northwest. The company is focused on managing its timberlands on a sustainable basis while optimizing its overall portfolio value by delivering land to its highest and best use. Rayonier also operates six sawmills, an industrial-grade plywood mill, residential and commercial real estate developments, and a rural land sales program. Rayonier is committed to corporate responsibility, third-party forest certification, and supporting climate change mitigation through its land-based solutions business. Rayonier Inc. was incorporated in 1926 in North Carolina and is based in Yulee, Florida.
RYN passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
11 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Mason Hawkins, SOUTHEASTERN ASSET MANAGEMENT INC/TN/$443.85M · 11.3% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$43.80M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$34.24M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$23.30M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$21.12M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Rayonier Inc. (RYN) undervalued?
Against our discounted cash flow estimate of USD17.71, RYN at USD22.15 is 20% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own RYN?
11 of the institutions we track reported a position in RYN in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is RYN's P/E ratio?
RYN trades at 47.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for RYN, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.