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This is the first in a series related to Forisk’s 2014 forecast of softwood stumpage prices and hardwood log prices in the United States. When Ben Bernanke stepped down in January 2014 after two terms as Chairman of the Federal more…
This post includes an excerpt from the feature article in the January/February 2014 edition of Wood Bioenergy US (WBUS) that ranks currently operating biomass plants and states based on wood-using capacity. The current issue of Wood Bioenergy US (WBUS) includes Forisk’s more…
CatchMark Timber Trust (CTT), formerly the private Wells Timber REIT, became a publicly-traded timberland-owning REIT on the New York Stock Exchange effective December 12, 2013. CatchMark’s IPO represents a pure, and path-breaking, “private-to-public” timber play. Investors and timberland investment managers, more…
NCREIF recently reported Q4 2013 total returns for private US timberlands of 5.92%. This total return number accounts for nearly two-thirds of the total 9.69% return for all of 2013. Big moves during the fourth quarter for the NCREIF Timberland more…
Q: What is the appropriate timing of cash flows in a forest valuation model? A: In normal forest operations, we likely won’t know in advance if forest stands will be harvested at the beginning, more…
The IRS Tax code requires real estate investment trusts (REITs) in the United States to pay out at least 90% of their taxable income to shareholders as dividends. In exchange, the IRS does not levy corporate taxes on this REIT more…
The phone rings. Our forest manager wants to increase the budget for fertilization in 2014. How do we account for the original investment – the original capital used to acquire the timberland – when evaluating new projects for the same more…