RYN - Rayonier: Staying Bullish On Asset Monetization Plan And Financial Outlook

2024-05-22 12:19:02 ET

Summary

• Rayonier Inc. is making good progress with its plan to sell $1 billion worth of assets, as the company is considering a number of potential transactions.
• Rayonier's unchanged FY 2024 guidance implies a return to positive EBITDA growth this year.
• A favorable FY 2024 outlook and positive disclosures pertaining to asset divestment support the case of a Buy rating for Rayonier.

Elevator Pitch

I assign a Buy rating to Rayonier Inc. ( RYN ) shares.

My prior write-up published on March 8, 2024, highlighted Rayonier's comments at its Investor Day this year and an investment conference organized by Raymond James ( RJF ). The current article provides an update on RYN's asset monetization activities and the company's expected financial performance this year....

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