rayonier is an international real estate investment trust (reit) committed to creating value through excellence in our core businesses: forest resources and real estate. we are a responsible steward of the land, managing every acre towards its highest and best use to achieve optimal value. rayonier was founded in 1926 in the pacific northwest and our current headquarters is in jacksonville, florida. over the years, rayonier has expanded to become the third-largest timber reit with approximately 2.7 million acres in the united states and new zealand. strategic by design, our business benefits from the geographic and market diversity of our land holdings across the us south, us gulf states, us pacific northwest and new zealand. our future growth is boosted by an excellent portfolio of properties suited for higher and better uses (hbu). our vision is to be the best-in-class international land resources company recognized as a leader in the industry. we achieve this every day by focusi