Rayonier Inc. (Rayonier) is a real estate investment trust (REIT). Rayonier is an international forest products company primarily engaged in activities associated with timberland management, the sale and entitlement of real estate, and the production and sale of specialty cellulose fibers and fluff pulp. The Company owns, leases or manages approximately 2.7 million acres of timberland and real estate located in the United States and New Zealand. Included in this property is approximately 200,000 acres of real estate located primarily along the coastal corridor from Savannah, Georgia to Daytona Beach, Florida. It owns and operates two specialty cellulose mills in the United States. Rayonier operates in four business segments: Forest Resources, Real Estate, Performance Fibers, and Wood Products. In November 2011, it acquired approximately 250,000 acres of timberlands from Joshua Timberlands LLC and Oklahoma Timber, LLC.