Rayonier Inc. (RYN) Stock

Rayonier Inc. (RYN) is a Real Estate stock trading at $21.20 (as of 2026-08-21), with a market capitalization of $6.37B and a trailing P/E of 13.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rayonier is a timberland real estate investment trust that owns or leases timberlands in the U.S. South, the U.S. Pacific Northwest, and New Zealand, totaling approximately 2.7 million acres under long-term agreements as of December 31, 2020. It also serves as managing member in a private equity timber fund with three funds totaling about 141,000 acres.

Understand Rayonier Inc.: how it makes money

Rayonier owns and manages timberland real estate (in the U.S. South, U.S. Pacific Northwest, and New Zealand), generating money from timberland-related real estate operations and timber activities, and it also earns from managing a private equity timber fund business as the managing member.

Rayonier's profit model is structurally tied to operating income from its timberland real estate assets across major timber regions (U.S. South, U.S. Pacific Northwest, and New Zealand), plus returns tied to its role as managing member in private timber funds.

Revenue by segment (latest quarter)
Real Estate (adj EBITDA)	$0.1B
Southern Timber	$0.1B
New Zealand Timber	$0.1B
Real Estate (revenue)	$0.1B
Real Estate (revenue GAAP)	$0.0B

Business quality (Weak): Confidence is moderate, because the provided segment candidates include a mix of revenue and segment adjusted EBITDA style line items, and the segment values must be combined to approximate the stated total revenue.

Valuation: At 7× earnings, RYN trades 78% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

Diversified timberland footprint: The asset base spans multiple productive softwood timber growing regions in the U.S. South and U.S. Pacific Northwest, and New Zealand.
Fund management alongside owned or leased timberland: Rayonier acts as the managing member in a private equity timber fund business with three funds.

Bear case

Operating results may be volatile: The company reports a negative operating margin for the latest quarter provided, suggesting costs and timing effects can overwhelm gross profit in some periods.
Segment reporting clarity risk: The available segment breakdown mixes revenue and segment adjusted EBITDA style measures, which can make it harder for investors to track like-for-like operating drivers across periods.

Valuation — source: SEC EDGAR (first-party)
Price	$21.20
Market Cap	$6.37B
P/E Ratio	13.7
EV / EBITDA	80.8
Price / Book	1.20
Price / Sales	9.40
FCF Yield	1.6%
DCF Value (model)	$24.87
DCF Upside vs Price	17.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$484.49M
Net Margin	97.9%
Revenue Growth (YoY)	233.8%
EPS Growth (YoY)	150.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.77 (safe)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	13.7
Sector P/E (Real Estate)	27.2
Industry P/E (Trading)	35.3
vs Sector	-49.6%
vs Industry	-61.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($594.93M)
Institutional Holders Tracked	10

Company
Sector	Real Estate
Industry	Trading
CEO	Mark D. McHugh
Employees	424
Country	US
IPO Date	1994-02-17

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.