Rayonier Inc. is a leading timberland real estate investment trust (REIT) with a portfolio comprising millions of acres of highly productive timberlands located in the U.S. South, the U.S. Pacific Northwest, and New Zealand. The company's core business model revolves around the sustainable management and harvesting of timber, which is sold to lumber mills, pulp and paper manufacturers, and other wood buyers. Rayonier operates through several primary business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, and Trading. The timber segments generate revenue from harvesting operations, log trading, and value-added activities such as recreational hunting licenses, mineral extraction leasing, and land-based solutions like solar energy and carbon capture. The Real Estate segment focuses on maximizing the value of the company's land portfolio by identifying and selling parcels that are more valuable for conservation, rural, or commercial and residential development than for long-term timber production. Following its merger with PotlatchDeltic, Rayonier also integrated wood products manufacturing into its operations, including sawmills and an industrial-grade plywood mill, further diversifying its revenue streams and enhancing its scale in the forest products supply chain.
