Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  MARGIOTTA CHARLES
 2. Date of Event Requiring Statement (Month/Day/Year)
05/20/2005		 3. Issuer Name and Ticker or Trading Symbol
RAYONIER INC [RYN]
(Last)
(First)
(Middle)
50 NORTH LAURA STREET, 19TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SR VP, Business Development
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

JACKSONVILLE, FL 32202		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 20,450
D
 
Common Shares 9,716
I
In Trust (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
01/02/01 Employee Stock Option 01/02/2004 01/04/2011 Common Shares 17,805 $ 21.52 D  
01/03/00 Employee Stock Options 01/03/2005 01/05/2010 Common Shares 26,708 $ 26.26 D  
01/04/99 Employee Stock Option 01/04/2002 01/06/2009 Common Shares 11,354 $ 25.59 D  
Employee Stock Option 01/02/2005 01/04/2012 Common Shares 17,805 $ 27.88 D  
Employee Stock Option   (2) 01/01/2014 Common Shares 10,000 $ 41.2 D  
Employee Stock Options   (3) 01/04/2013 Common Shares 17,805 $ 25.84 D  
Employee Stock Options   (4) 01/03/2015 Common Shares 10,000 $ 48.4 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
MARGIOTTA CHARLES
50 NORTH LAURA STREET
19TH FLOOR
JACKSONVILLE, FL 32202		       SR VP, Business Development  

Signatures

By: Charles Margiotta 05/23/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares are held in the Rayonier Investment and Savings Plan for this person's account.
(2) Vests in one-third installments annually commencing 12/30/04.
(3) Vest in one-third installments annually commencing 01/02/2004.
(4) Vests in one-third installments annually commencing 1/3/06.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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