SHAREHOLDER RIGHTS NOTICE: Halper Sadeh LLC Probes RYN, PCH, ATXS for Shareholder Advocacy
Investigation of Companies: Halper Sadeh LLC is investigating Rayonier Inc. and PotlatchDeltic Corporation for potential violations of federal securities laws related to their merger, which will result in Rayonier shareholders owning approximately 54% of the combined entity.
Shareholder Rights: The firm is also looking into Astria Therapeutics, Inc.'s sale to BioCryst Pharmaceuticals and is encouraging shareholders from all involved companies to contact them for legal rights and options, emphasizing that they operate on a contingent fee basis.
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- Merger Completion: Rayonier has officially completed its merger with PotlatchDeltic, resulting in a combined company that owns over four million acres of diverse timberland, which is expected to generate significant value for shareholders and stakeholders.
- Leadership Team Composition: The new senior leadership team comprises top talent from both Rayonier and PotlatchDeltic, ensuring a balanced and professional management structure aimed at driving future growth and innovation for the company.
- Board Structure: The new Board of Directors consists of five directors from Rayonier and five from PotlatchDeltic, with Eric J. Cremers serving as Executive Chairman, ensuring stability and continuity in governance post-merger.
- Stock Trading Information: The merged company will retain the Rayonier name and plans to trade under the ticker symbol “RYN” on the New York Stock Exchange starting February 2, 2026, with a new name and ticker to be announced, reflecting the company's ongoing commitment to the market.
Merger Announcement: Rayonier and PotlatchDeltic have announced the closing of their merger, creating a significant entity in the timberland and wood products industry.
Impact on Industry: The merger is expected to enhance operational efficiencies and expand market reach, positioning the new company as a leader in sustainable forestry practices.
Shareholder Benefits: Shareholders of both companies are anticipated to benefit from increased value and growth opportunities resulting from the merger.
Future Plans: The newly formed company plans to focus on innovation and sustainability in its operations, aiming to meet the growing demand for environmentally responsible products.
- Merger Approval: Rayonier (RYN) and PotlatchDeltic (PCH) announced that shareholders have approved their merger, which is expected to close on Friday, marking a significant step in the consolidation of the timber and wood products industry.
- Deal Valuation: The all-stock transaction is valued at approximately $8.2 billion, including debt, creating one of North America's largest publicly traded timber and wood products companies, significantly enhancing market competitiveness.
- Equity Structure: Upon completion of the merger, Rayonier shareholders will own about 54% of the combined entity, while PotlatchDeltic shareholders will hold approximately 46%, providing stronger resource integration and synergy potential for both companies.
- Future Development Plans: The combined company will retain the Rayonier name and plans to announce a new name and ticker symbol later in Q1, reflecting a focus on brand repositioning and market strategy.
- Operational Performance: According to Nareit's report, REITs demonstrated strong operational performance in the first three quarters of 2025, with funds from operations (FFO) increasing by 6.2% year-over-year, indicating resilience and profitability in the sector.
- Dividend Growth: The sector also saw a 6.3% year-over-year increase in dividend payouts, reflecting the stability of company earnings and potentially attracting more capital inflows into the REIT market.
- Market Expectation Adjustments: Cohen & Steers noted that despite the strong performance, weaker-than-expected demand and disappointing fundamentals in 2026 are likely to lead to rising cap rates and declining asset values, prompting investors to approach the market with caution.
- Short Selling Trends: Ahead of the upcoming earnings season, Seeking Alpha compiled short interest data for REIT stocks with market caps over $2 billion, revealing that Medical Properties Trust (MPW) has the highest short interest at 25.09%, indicating significant pessimism among investors regarding this asset class.
- Dividend Overview: PotlatchDeltic Corporation announces a total dividend distribution of $1.80 per share for 2025, classified as 100% Capital Gain Distributions subject to a long-term 20% tax rate, reflecting the company's commitment to shareholder returns.
- Distribution Schedule: The 2025 dividend will be distributed in four installments of $0.45 each, payable on March 31, June 30, September 30, and December 31, ensuring a steady cash flow for shareholders throughout the year.
- Tax Advisory: The company encourages shareholders to consult with tax advisors regarding the specific tax treatment of PotlatchDeltic distributions, emphasizing the importance of tax compliance to help shareholders optimize their tax liabilities.
- Company Background: PotlatchDeltic is a leading Real Estate Investment Trust (REIT) owning 2.1 million acres of timberlands and operating multiple sawmills and real estate development businesses, showcasing its leadership in sustainable forest management.








