RPT-Rayonier 2nd-quarter operating earnings slip

NEW YORK, July 22 (Reuters) - Timber and real estate company Rayonier Inc (RYN.N) said on Tuesday its second-quarter earnings excluding items fell, hurt by lower sawlog pricing due to the weak housing market.

Excluding items, quarterly earnings were 47 cents a share, down from 55 cents a share a year earlier.

Net income in the quarter was $37.4 million, or 47 cents a share, compared with a year-before profit of $33.3 million, or 42 cents a share, when results were hurt by a $10 million loss from forest fires. (Reporting by Euan Rocha, editing by Gerald E. McCormick)