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While publicly-traded timberland-owning REITs, and REITs generally, outperformed the S&P 500 over 10-year, 3-year and 1-year benchmarks (see table), the sector took a shellacking during the third quarter of 2011. The Wall Street Journal profiled the “dethroning” of REITs as more…
This year, Amanda Lang, our Director of Wood Bioenergy Research, has led efforts to enhance the investment-relevant insights from Wood Bioenergy US, the Forisk publication that tracks all announced and operating wood-using bioenergy projects in the US. As of the September more…
The 1970 movie “Sometimes a Great Notion”, based on the novel by Ken Kesey, centers on an independent logger in Wakonda, Oregon, and a battle between the local logging union and a lumber conglomerate. The patriarch of the logging family, more…
Over the past three months, Dr. Tim Sydor, Forisk’s Director of Economic Analysis and Forecasting, has led our mid-year update of Forisk’s 2011-2020 timber forecast for the US South and Pacific Northwest. The results show sawtimber prices for the US more…
Last Friday (September 16, 2011), Rayonier (RYN) announced its intent to acquire 250,000 acres of timberlands in the US South for $330 million. Expected to close in the fourth quarter of this year, the deal would bring Rayonier’s timberland ownership more…
If you invest, isn’t all income “good”? Not according to the IRS when it comes to real estate investment trusts (REITs). Generally, 95% of a REIT’s gross income must be derived from rents from real property, aka “good income.” For more…
According to the August edition of Wood Bioenergy US, the number of announced and operating wood-consuming bioenergy projects in the United States increased from 457 in July to 462 in August. However, the volume of total wood use that passed more…
Last week, Fitch Ratings raised its outlook on Weyerhaeuser (WY) from “negative” to “stable” and affirmed its rating at “BB+”. Fitch justified the action primarily on WY’s Pulp business and core Timberland operations, though the rating agency recognized that the more…
On July 25, 2011, Rayonier (RYN) announced that its board of directors approved a three-for-two stock split. On August 24, 2011, the company issued one-half additional share for each share held to shareholders of record as of August 10, 2011. more…
A duck walked into the doctor’s office and asked, “Doc, how do you treat timber REIT dividends?”…. Distributions from real estate investment trusts (REITs) have three elements: Distributions representing firm Operating Income are taxed at investors’ ordinary (marginal) tax rates. more…