Rayonier Management
Management criteria checks 2/4
Rayonier's CEO is Mark McHugh, appointed in Jan 2023, has a tenure of 3.42 years. total yearly compensation is $5.46M, comprised of 14.7% salary and 85.3% bonuses, including company stock and options. directly owns 0.061% of the company’s shares, worth $3.81M. The average tenure of the management team and the board of directors is 0.4 years and 1.3 years respectively.
Key information
Mark McHugh
Chief executive officer
US$5.5m
Total compensation
| CEO salary percentage | 14.66% |
| CEO tenure | 3.4yrs |
| CEO ownership | 0.06% |
| Management average tenure | less than a year |
| Board average tenure | 1.3yrs |
Recent management updates
Recent updates
Narrative Update • Jun 08
RYN: Merger Synergies And Capital Returns Will Offset Timber Pricing Headwinds
Analysts have lowered their fair value estimate for Rayonier from $24.00 to $22.00 after reducing price targets and adjusting assumptions for slower revenue growth and slightly weaker profit margins. They point to flat to declining timber EBITDA and a lack of clear near term pricing catalysts as key factors.Seeking Alpha • May 27
Rayonier: A Land-Rich REIT Trading Below Its Asset Value
Summary Rayonier offers unique hard asset exposure, trading at a rare 27% discount to estimated NAV and a 57% discount to its historical price-to-book. RYN’s diversified portfolio includes timberland, real estate, solar, and over 4.1 million acres, with significant optionality in higher-and-better-use land strategies. The PotlatchDeltic merger increased RYN’s exposure to cyclical lumber manufacturing, pressuring margins, but the real estate and solar segments provide high-margin, lumpy upside. I rate RYN a strong buy for portfolio diversification, hard asset exposure, and multiple catalysts, despite execution and cyclical risks. Read the full article on Seeking Alpha
Narrative Update • May 25
RYN: Discounted Southern Timberlands And Buybacks Will Support Future Upside Potential
Narrative Update on Rayonier Analysts have trimmed Rayonier’s aggregated price target by $1 to $25, citing a lack of clear near term catalysts for southern timber pricing and expectations for flat to lower timber EBITDA, even as the stock continues to trade at a discount to underlying private market timberland values. Analyst Commentary Bullish analysts acknowledge the trimmed price targets but still highlight that Rayonier trades at a clear discount to underlying private market timberland values, especially in the U.S. South.Narrative Update • May 07
RYN: Synergies And Share Repurchases Will Support Future Timber Earnings Shift
Analysts have adjusted their Rayonier price target to $26. This reflects updated views on fair value, revenue growth, profit margin and a higher future P/E multiple, supported by recent research citing the company's solid balance sheet, potential synergies and flexible capital allocation, including the opportunity for share repurchases.Narrative Update • Apr 23
RYN: Synergy Execution And Capital Returns Will Shape Future Upside Potential
Rayonier's updated analyst price target has shifted from $27.00 to $24.00, as analysts weigh higher assumed discount rates against expectations for stronger revenue growth, moderating profit margins, a lower future P/E, and recent Street research that highlights the company's balance sheet, potential synergies, and flexible capital allocation. Analyst Commentary Recent Street research on Rayonier reflects a mix of viewpoints, and the latest price target revision to $24.00 signals a more cautious stance from some on the Street.Narrative Update • Apr 06
RYN: Merger Synergies And Buybacks Will Support Timber Focused Earnings Shift
Analysts have nudged Rayonier's fair value estimate higher by about $0.47 to $32.99, tying the shift to updated views on post merger revenue growth, profit margins, and a lower assumed future P/E, along with comfort around the company's balance sheet, potential cost synergies, and flexible capital allocation that could include share repurchases. Analyst Commentary Recent Street research around Rayonier has centered on how the pending merger and capital allocation choices could influence the stock's risk and reward profile.
Narrative Update • Mar 23
RYN: Merger Synergies And Share Repurchases Will Drive Future Upside
Analysts have raised Rayonier's price target to $26, up from the prior $25 level, citing confidence in the company's solid balance sheet, expected cost synergies from the pending merger, and a flexible capital allocation approach that could support meaningful share repurchases over time. Analyst Commentary Recent research coverage around Rayonier and its pending merger points to a mixed but constructive setup, with analysts weighing balance sheet strength and potential cost savings against pockets of end market softness.Narrative Update • Mar 09
RYN: Post Merger Synergies And Capital Returns Will Drive Future Upside
Narrative Update on Rayonier The updated analyst price target for Rayonier moves slightly higher to $26 from a prior blend around $25 to $27. Analysts point to the company’s solid balance sheet, expected merger synergies, flexible capital allocation and the potential for share repurchases as key supports for this change.Narrative Update • Feb 22
RYN: Post Merger Synergies And Capital Returns Will Support Future Upside
The updated analyst price target for Rayonier edges down by about $0.67 per share, as analysts weigh a stronger profit margin outlook and more moderate revenue expectations against recent target tweaks related to the pending PotlatchDeltic merger, balance sheet strength, and capital allocation flexibility. Analyst Commentary Recent research on Rayonier reflects a mixed read, with some analysts focusing on balance sheet strength and merger synergies, while others highlight product mix shifts and softer end markets as key watch items for execution and valuation.Narrative Update • Feb 08
RYN: Merger Will Shift Earnings Toward Timber Resilience Despite Pulpwood Headwinds
Analysts have trimmed their price target on Rayonier to $26 from $28, reflecting slightly softer margin and growth expectations, along with commentary about modestly challenged near term packaging volumes and ongoing pressure in U.S. South pulpwood markets. Analyst Commentary Recent Street research around Rayonier has centered on the pending merger with PotlatchDeltic and how that combined company might be positioned across timber, lumber and pulpwood markets.Narrative Update • Jan 24
RYN: Merger Will Rebalance Cash Flows Toward Packaging Fiber Resilience
Analysts have trimmed their price expectations for Rayonier to $26 from $28, citing slightly higher assumed discount rates, modestly weaker revenue and margin inputs, and ongoing pressure in U.S. South pulpwood and related packaging markets. Analyst Commentary Recent research on Rayonier and its pending merger partner points to a mixed backdrop, but there are some clear positives emerging in the story that matter if you are focused on long term value and execution.Narrative Update • Jan 08
RYN: Merger Will Shift Earnings Toward Resilient Packaging Fiber Demand
Narrative Update Analysts have trimmed their Rayonier fair value estimate from about US$37.67 to roughly US$32.52, reflecting updated assumptions on discount rates, profitability and future P/E multiples, along with more cautious views on lumber exposure and near term pulpwood and packaging demand. Analyst Commentary Street research around Rayonier right now is mixed, with some caution on near term pulpwood and packaging demand but also a clear focus on how the business mix could look after the PotlatchDeltic merger and how packaging trends might support earnings power over time.Narrative Update • Dec 25
RYN: Special Dividend And Buybacks Will Drive Attractive Future Upside Potential
Analysts have slightly reduced their price target on Rayonier to approximately 27.83 dollars from about 28.17 dollars, citing marginally lower long term growth expectations, partly offset by modest improvements in projected profitability and valuation multiples. What's in the News Rayonier declared a one time special dividend of 1.40 dollars per share, payable on December 12, 2025 to shareholders of record on October 24, 2025, in connection with a merger agreement with PotlatchDeltic Corporation (Key Developments).Narrative Update • Dec 11
RYN: Share Buybacks And Special Dividend Will Drive Stronger Upside Ahead
Analysts have nudged their price target on Rayonier slightly lower, trimming fair value by about $0.67 per share to roughly $28.17. They cited modestly softer profit margin expectations and a marginally higher discount rate, which only partially offset slightly improved revenue growth projections.Narrative Update • Nov 27
RYN: Share Repurchase And Special Dividend Will Drive Bullish Momentum Into 2025
Analysts have slightly reduced their price target for Rayonier from $29.33 to $28.83 per share. This adjustment reflects improved profit margin forecasts, while accounting for lower projected revenue and substantial changes in future valuation multiples.Narrative Update • Nov 12
RYN: Higher Log Prices Will Drive Upbeat Outlook Into 2025
Analysts have revised Rayonier’s price target upward from $26 to $27, citing higher log price estimates and an improved outlook for 2025. However, they emphasize that the current valuation appears fair.Seeking Alpha • Mar 03
Rayonier Vs. Barrick: Paper Covers Pet Rock
Summary Inflation hedges are an important part of an overall portfolio construction. Unfortunately most investors chase assets without understanding the value they offer. We go over two popular inflation hedges and tell you why we bought one. Read the full article on Seeking AlphaSeeking Alpha • Nov 11
Rayonier: Earnings Fall Short, But Divestments Impress
Summary I maintain my Buy rating for Rayonier; my focus is on the company's good progress relating to its asset divestment plan, rather than its Q3 2024 results miss. RYN's Q3 2024 top line and bottom line came in -7.7% and -7.0% below the consensus financial forecasts, respectively, due to the underperformance of the New Zealand Timber segment. But Rayonier has already achieved 73.7% of its $1 billion asset divestment target, which implies that it could potentially exceed its asset sales goal by the middle of next year. Read the full article on Seeking Alpha
New Narrative • Sep 02
Soaring Costs And Soft Markets Threaten Timber Giant's Margins And Profitability
Deferred harvest activities and softer market conditions in the Timber segments could negatively impact near-term revenue and adjusted EBITDA.Seeking Alpha • Aug 13
Rayonier: Look Past Q2 Results Miss
Summary RYN's Q2 2024 results fell short of the analysts' consensus estimates, but investors should look past this below-expectations second quarter performance. Rayonier still sees its 2024 EBITDA falling within its previous guidance, as the company has intentionally pushed back certain harvests in 1H, which points to a recovery for 2H. RYN is a Buy considering its re-rating potential, as privately held timber assets are commanding a much higher EV/EBITDA multiple as compared to what the stock is trading at now. Read the full article on Seeking AlphaSeeking Alpha • May 22
Rayonier: Staying Bullish On Asset Monetization Plan And Financial Outlook
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. Read the full article on Seeking AlphaSeeking Alpha • Mar 08
Rayonier: Favorable Takeaways From Latest Investor Events
Summary RYN's land-based solutions and real estate development businesses are expected to be the key growth drivers for the company in the medium to long term. Rayonier's $1 billion asset disposal target will provide opportunities for the company to improve the quality of its timberland asset portfolio. RYN is still rated as a Buy, as I view the takeaways from the company's recent investor events in a favorable light. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$62m |
| Dec 31 2025 | US$5m | US$800k | US$68m |
| Sep 30 2025 | n/a | n/a | US$363m |
| Jun 30 2025 | n/a | n/a | US$340m |
| Mar 31 2025 | n/a | n/a | US$331m |
| Dec 31 2024 | US$5m | US$743k | US$331m |
| Sep 30 2024 | n/a | n/a | US$137m |
| Jun 30 2024 | n/a | n/a | US$136m |
| Mar 31 2024 | n/a | n/a | US$160m |
| Dec 31 2023 | US$3m | US$565k | US$154m |
| Sep 30 2023 | n/a | n/a | US$80m |
| Jun 30 2023 | n/a | n/a | US$81m |
| Mar 31 2023 | n/a | n/a | US$86m |
| Dec 31 2022 | US$2m | US$544k | US$107m |
| Sep 30 2022 | n/a | n/a | US$83m |
| Jun 30 2022 | n/a | n/a | US$138m |
| Mar 31 2022 | n/a | n/a | US$171m |
| Dec 31 2021 | US$2m | US$521k | US$153m |
| Sep 30 2021 | n/a | n/a | US$154m |
| Jun 30 2021 | n/a | n/a | US$78m |
| Mar 31 2021 | n/a | n/a | US$22m |
| Dec 31 2020 | US$2m | US$501k | US$37m |
| Sep 30 2020 | n/a | n/a | US$43m |
| Jun 30 2020 | n/a | n/a | US$43m |
| Mar 31 2020 | n/a | n/a | US$60m |
| Dec 31 2019 | US$2m | US$464k | US$59m |
Compensation vs Market: Mark's total compensation ($USD5.46M) is below average for companies of similar size in the US market ($USD8.38M).
Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.
CEO
Mark McHugh (50 yo)
3.4yrs
Tenure
US$5,457,716
Compensation
Mr. Mark D. McHugh J.D., has been the Chief Financial Officer and served as Senior Vice President at Rayonier Inc. a General Partner of Rayonier, L.P. since December 12, 2014. He serves as President at Ray...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.4yrs | US$5.46m | 0.061% $ 3.8m | |
| Senior VP & Chief Accounting Officer | less than a year | US$1.92m | 0.013% $ 807.6k | |
| Executive VP | 12yrs | US$1.60m | 0.031% $ 2.0m | |
| Executive Vice President of Land Resources | 3.3yrs | US$2.00m | 0.022% $ 1.4m | |
| Executive Chairman of the Board | less than a year | no data | 0.24% $ 14.8m | |
| Executive VP & CFO | less than a year | no data | 0.038% $ 2.4m | |
| Senior VP & Chief Human Resources Officer | less than a year | no data | 0.047% $ 2.9m | |
| Senior VP of Real Estate Development & President of Raydient | 8.4yrs | US$843.24k | 0.019% $ 1.2m | |
| Vice President of Capital Markets & Strategic Planning | no data | no data | no data | |
| Senior VP & Chief Sustainability Officer | less than a year | no data | no data | |
| Senior Vice President of Operations of Wood Products business | no data | no data | 0.0024% $ 147.7k | |
| Vice President & Treasurer | no data | no data | no data |
0.4yrs
Average Tenure
55yo
Average Age
Experienced Management: RYN's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2.2yrs | US$5.46m | 0.061% $ 3.8m | |
| Executive Chairman of the Board | less than a year | no data | 0.24% $ 14.8m | |
| Director | less than a year | no data | 0.079% $ 5.0m | |
| Director | less than a year | no data | 0.021% $ 1.3m | |
| Director | less than a year | no data | 0.022% $ 1.4m | |
| Lead Independent Director | 12yrs | US$277.51k | 0.023% $ 1.4m | |
| Independent Director | 3.6yrs | US$211.01k | 0.0075% $ 473.9k | |
| Independent Director | 8.5yrs | US$212.46k | 0.015% $ 943.9k | |
| Director | less than a year | no data | 0.022% $ 1.4m | |
| Independent Director | 6.1yrs | US$231.01k | 0.015% $ 932.0k |
1.3yrs
Average Tenure
63yo
Average Age
Experienced Board: RYN's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 04:17 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Rayonier Inc. is covered by 14 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Peter Ruschmeier | Barclays |
| Ketan Mamtora | BMO Capital Markets Equity Research |
| John Babcock | BofA Global Research |