Rayonier is a large private landowner in North America with over 2 million acres of timberland in the United States and additional timberland in New Zealand. As a real estate investment trust, the company is exempt from paying federal income taxes on earnings from timber harvest activities.
Rayonier focuses on creating long-term value from its timberlands and real estate properties through intensive asset management and active portfolio management. Asset management involves balancing biological growth with near-term harvest cash flows while adhering to responsible environmental practices. Portfolio management consists of analyzing supply and demand within localized timber markets and conducting due diligence on timber inventory and growth potential.
Rayonier’s capital allocation philosophy is flexible and designed to create long-term value per share, taking into consideration a range of options such as dividends, share buybacks, acquisitions, debt reduction, and capital investments. The company believes in nimbleness when it comes to capital allocation in order to take advantage of various opportunities that may present themselves over the course of a business cycle. By doing so, Rayonier hopes to create value for its shareholders.
Rayonier strives to be a responsible steward of the environment and believes that sustainable forestry is essential in protecting natural resources. The company maintains strict guidelines for responsible forest management to ensure that timber harvest activities are conducted safely and sustainably.
Rayonier also invests in various conservation projects throughout its land holdings, which help to preserve wildlife habitats and promote healthy forests. In addition, the company actively supports local communities through economic development initiatives and charitable giving programs. With responsible management and a commitment to environmental stewardship, Rayonier is dedicated to preserving its timberlands for generations to come.