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Rayonier Inc. (NYSE:RYN) owns and manages over two million acres of timberland in the United States. It is one of the largest private landowners in North America. The firm also owns timberland in New Zealand.

It is set to report its Q3 2024 earnings on October 30. Wall Street analysts expect the company to post an EPS of $0.13, flat from the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $216.25 million, up from $201.60 million in the year-ago period.

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If You Bought Rayonier Stock 20 Years Ago

The company's stock traded around $14.62 per share 20 years ago. If you had invested $1,000, you could have bought approximately 68 shares of Rayonier stock. Currently, shares are trading at $31.58, which means your investment's value could have soared to $2,160 because of stock price appreciation. But wait, the company also paid dividends during these 20 years. 

Rayonier’s dividend yield is currently 3.61%. Over the last twenty years, it paid around $33.88 in dividends per share, which means you could have made $2,317 from dividends alone. 

Summing up $2,160 and $2,317, we end up with the final value of your investment, which is $4,477. This is how much you could have made if you had invested $1,000 in Rayonier stock 20 years ago. This means a total return of 347.7%. However, this figure is significantly lower than the S&P 500 total return for the same period, which was 558.33%.

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What Could The Next 20 Years Bring? 

Rayonier has a consensus rating of Sector Perform and a price target of $33.6 based on the ratings of five analysts. The price target implies a potential upside of around 6% from the current stock price.

On Aug. 7, the company reported its Q2 2024 earnings, posting an adjusted EPS of $0.02, missing the consensus estimate of $0.14, and revenues of $173.6 million, compared to the consensus of $218.289 million, as reported by Benzinga.

"Market conditions remained challenging during the second quarter, translating to a 20% decline in Adjusted EBITDA versus the prior-year quarter," said Mark McHugh, President and CEO. "Much of this decline was attributable to lower harvest volumes in our Timber segments, reflecting generally softer demand and the deferral of some harvest activity. We expect to recoup much of this volume over the balance of the year, which should translate to stronger second half versus first half results for our Timber segments, collectively."

"Based on our first half results and expectations for the remainder of the year, we now expect that full-year Adjusted EBITDA will be toward the lower end of our prior guidance range and full-year pro forma EPS will be modestly below the low end of prior guidance," added McHugh. 

In summary, growth-focused investors may not find Rayonier stock attractive, given just modest expected upside potential. Conversely, the stock can be a good option for income-focused investors who can benefit from the company's solid dividend yield of 3.61%. 

Check out this article by Benzinga for three more companies offering high dividend yields. 

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This article If You Invested $1,000 In Rayonier Stock 20 Years Ago, How Much Would You Have Now? originally appeared on Benzinga.com