Rayonier Shares Rise Following Strong Third-Quarter Earnings and Real Estate Performance
Rayonier (RYN) shares surged over 8% following third-quarter earnings that exceeded analyst expectations. Despite a year-over-year decrease in pro forma earnings per share to $0.13 due to a large timberland sale, the results beat FactSet consensus estimates. Revenue reached $420.6 million, significantly higher than the previous year's $178 million, largely driven by the acquisition of Potlatch Deltic. The company is actively working to close its valuation gap relative to net asset value (NAV). Rayonier reported strong real estate segment performance with adjusted EBITDA of $49 million, far exceeding guidance. To support shareholder value, the board authorized an additional $300 million in share buybacks, which management intends to fund through further timberland dispositions over the next 12 to 18 months.
Topics: earnings beat real estate investment trust revenue growth stock performance timberland
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