)
Overview
<ul>
<li>Land resources REIT’s Q4 revenue and adjusted EPS beat analyst expectations</li>
<li>Company completed merger with PotlatchDeltic, forming a leading land resources REIT</li>
<li>Q4 adjusted EBITDA beat estimates, driven by core segment performance</li>
</ul>
Outlook
<ul>
<li>Rayonier expects Southern Timber harvest volumes of 12.1 to 12.6 mln tons in 2026</li>
<li>Company anticipates Northwest Timber log pricing to be higher in 2026</li>
<li>Rayonier forecasts Real Estate Adjusted EBITDA of $180 to $200 mln for 2026</li>
</ul>
Result Drivers
<ul>
<li>MERGER COSTS - Rayonier’s Q4 results were affected by $6.3 mln in costs related to the merger with PotlatchDeltic</li>
<li>SOUTHERN TIMBER - Adjusted EBITDA fell 8% due to lower stumpage realizations and non-timber income, despite higher harvest volumes</li>
<li>REAL ESTATE SALES DROP - Real Estate segment sales and operating income fell sharply due to fewer acres sold and absence of large dispositions</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q4 Beat $117.50 $110.06
Revenue mln mln (5
Analysts
)
Q4 Beat $0.20 $0.11 (5
Adjusted Analysts
<h3>EPS )</h3>
<h3>Q4 EPS $0.16</h3>
Q4 Beat $32.10 $18.84
Adjusted mln mln (4
Net Analysts
Income )
Q4 Net $25.90
Income mln
Q4 Beat $61.70 $55.35
Adjusted mln mln (5
EBITDA Analysts
)
Q4 $27 mln
Operatin
g Income
Analyst Coverage
<ul>
<li>The current average analyst rating on the shares is “hold” and the breakdown of recommendations is 1 “strong buy” or “buy”, 4 “hold” and no “sell” or “strong sell”</li>
<li>The average consensus recommendation for the specialized reits peer group is “buy.”</li>
<li>Wall Street’s median 12-month price target for Rayonier Inc is $26.00, about 15.9% above its February 10 closing price of $22.43</li>
<li>The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 42 three months ago</li>
</ul>
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Rayonier Q4 adjusted EPS eases past estimates