Rayonier's 4Q Buoyed by Favorable Pricing in Pacific Northwest and New Zealand
Rayonier managed an impressive fourth quarter, driven by a mix shift toward high-value sawlogs and rising prices in the Pacific Northwest and New Zealand. This lifted adjusted EBITDA 15% year over year to $52.9 million in Rayonier's timber segments. We have raised our near-term New Zealand log price outlook to account for recent price levels but still expect prices to fall over the coming decade. We've increased our fair value estimate to $29 per share from $28 for no-moat Rayonier.Amid strong ...
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