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This is the first in a series related to Forisk’s Q2 2016 forest industry analysis and timber price forecasts for the United States. Each quarter when updating our Forisk Research Quarterly (FRQ) forecast models, we revisit prior projections and review more…
Another incomplete timberland investment thesis resurfaced: timberland as a deflation hedge. Chip Dillon of Vertical Research Partners dusted off this idea during a conference presentation in March. (We have had issues with timberland investment analysis from Mr. Dillon’s team in more…
During a break at a recent workshop, a participant asked me, “Do we really need to manage forests to make money? Is it worth the extra effort instead of just letting trees grow back on their own?” Short answer: Yes more…
One challenge of investing in a forest is determining when it reaches financial maturity. This is when the owner’s cost of keeping an asset exceeds expected returns. Timber complicates this thinking because a tree is both the “product” and the more…
This is the third in a series related to Forisk’s Q1 2016 forest industry analysis and timber price forecasts for the United States. Each quarter, we look back and evaluate the performance of previous forecasts and earlier models. How did more…
This is the first in a series related to Forisk’s Q1 2016 forest industry analysis and timber price forecasts for the United States. Each quarter when updating our Forisk Research Quarterly (FRQ) forecast models, we revisit prior projections and review more…
Timberland investors often use timber REIT dividend yields and U.S. Treasuries as inputs, proxies or reference points for discount rates applied to valuation models. In the case of Treasuries, 2016 opened with the 10-Year and 30-Year at 2.24% and 2.98%. more…
Timber REIT shares suffered with the S&P 500 during two weeks of bubble-bursting activity to open 2016. Through January 15th, the S&P dropped 8% while the public timber REITs scored as follows: CatchMark (CTT): -1.5% Plum Creek (PCL): -13.5% Potlatch more…
December 2015 included multiple global confabs and ripples in the space-time continuum. In Los Angeles, “Star Wars: The Force Awakens” opened. The movie had a record opening weekend, bringing in $248 million in North America alone. In Paris, a United more…
The timber REIT sector tumbled in 2015. The Forisk Timber REIT (FTR) Index fell -9.3% for the year, while the S&P 500 essentially flatlined at -0.7% over the same period. Of the five public timber REIT equities – CatchMark Timber more…