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Our team at Forisk just released its 2011 timber (stumpage) forecast for pine sawtimber and pulpwood for the US South and by state. Overall, we show increasing demand for wood raw materials and higher pine stumpage prices for forest owners more…
An interesting report landed on our desk a few weeks ago, further reinforcing the sorry state of timberland market analysis available to timber REIT investors. The report, from Credit Suisse, makes assertions based on a careless and faulty application of more…
Last week, I spoke at the Global Real Assets Investment Forum in New York as part of the panel on “Timber in Institutional Portfolios.” My takeaway from participating in this event: institutional investors seem bored with timberlands. They showed more more…
From the desk of Neena Mishra, Director of Equity Research: On February 4, 2011, Weyerhaeuser (WY) reported its Q4 2010 results. Net income for the quarter came in at $0.10 per share, a nickel ahead of street consensus. Timberlands earnings more…
From the desk of Neena Mishra, Director of Equity Research: Both Plum Creek (PCL) and Rayonier (RYN) reported Q4 2010 results in the past week. Both firms just beat market expectations through off-setting different combinations of higher and lower pricing more…
As of January 30, 2011, Wood Bioenergy US counted 445 wood-consuming, announced and operating bioenergy projects in the continental US, up from 441 in December 2010. In total, these projects – which include wood pellet, wood-to-electricity, and cellulosic ethanol projects – represent potential, more…
Forisk Equity Research completed a comparative analysis of timber REIT forest harvesting activities to address the question, “who wins as housing markets return?” The Executive Summary is below. The complete Technical Note (January 2011) is available here. Executive Summary While more…
Forisk Consulting was named to the “Bulldog 100 Fastest Growing Businesses” by the University of Georgia Alumni Association at an awards banquet in Atlanta on January 22, 2011. In total, the “Bulldog 100”, based on revenue growth over the past more…
REIT investors specify the relatively high and stable dividends as a key benefit of investing in real estate investment trusts. Timberland-owning REITs (timber REITs) offer additional tax benefits. Most timber REIT distributions (related to income from the sale of timber) more…
From the desk of Amanda Lang, Managing Editor, Wood Bioenergy US: On January 12, 2011 the EPA announced that it will defer greenhouse-gas permitting requirements for facilities using biomass to make electricity (see “EPA Grants Greenhouse-Gas Rule Exemption”, wsj.com, 1/13/11). more…