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“How do timberland investment managers make money?” The question itself, asked by an analyst working for an institutional investor, was straightforward enough. However, it was the third time in the past week our team had received a call with such more…
Last week, Pasadena, Texas-based KiOR filed with US regulators to increase the size of its initial public offering to $200 million, doubling its initial filing of $100 million in April (KiOR doubles size of IPO, Reuters, June 1, 2011). KiOR plans more…
The May issue of Wood Bioenergy US indicates that, as of May 25, 2011: The continental US has 453 wood-consuming, announced and operating bioenergy projects. In total, these projects represent potential, incremental wood use of 130 million green tons/year by 2021. more…
Questions and comments regarding a study we published with the Schiamberg Group have focused on (1) why a given wood-using transportation fuel project is different or “special” and (2) potential impacts to timberland investors and managers. The study – Transportation Fuels from Wood: more…
Our team just published a study with the Schiamberg Group that evaluates the wood-based transportation fuel sector in the United States. The study builds on Forisk’s tracking and screening of all operating and announced wood-using bioenergy projects in the US (453 projects more…
Two-thirds of the nearly 6.2 million acres that Weyerhaeuser (WY) owns and leases in the United States are located in the South. Our Equity Research team matched WY’s timberland acres to Forisk’s state-by-state forecast of stumpage prices and wood demand more…
Between April 25th and April 29th, all four public timberland-owning REITs reported their Q1 2011 financial performance. Three of the four firms reported earnings per share below Wall Street consensus expectations: Overall, results continue to reflect the US housing downturn more…
Producing a proper wood-derived biofuel follows a three-step recipe. One, grow trees. Two, break down wood from the trees into its components. Three, use these components to produce biofuels. Unfortunately, this simple recipe does not equate to “technologically doable and more…
Recent comments by Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Blair regarding minimum down-payments of up to 20% for “qualified residential mortgages” (QRM) echoed discussions about residential housing markets at the UGA Timberland Investment Conference. Our Equity Research Team (Neena more…
From the desk of Neena Mishra, Director of Equity Research: The Forisk Timber REIT (FTR) Index of public timberland-owning real estate investment trusts (REITs) continues to outpace the overall market in 2011, returning 23.78% year-to-date compared with 6.19% for the more…