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This post includes summary comments from Brooks Mendell’s presentation “Evaluating Overseas Timberland Investments and Discount Rates” given on September 20th, 2012 in Portland, Oregon at Who Will Own the Forest? Like NFL quarterbacks with respect to winning and losing football more…
Recent rosiness reported in US housing markets triggered interest and trading in public timber REITs. Year-to-date, timber REITs and the Forisk Timber REIT (FTR) Index show positive performance (Table 1). However, the results vary by firm and sit below 2012 more…
From the desk of Amanda Lang, who attended and spoke at the Forest Landowner’s Association National Conference last week in Ponte Vedra Beach, Florida. “Forest certification” generated lots of questions from those attending the 2012 Forest Landowner’s Association national meeting. more…
This is the second in a two-part series related to the analysis of wood baskets and timber markets for investments in forest industry mills, wood-using bioenergy projects and timberland. Part I of Wood Market Realities (Stumpage Price Paranoia) addressed real more…
This is the third in a three-part series related to the financial performance, current trends and changing structure of the timberland investment sector. Newspaper headlines scream distractions. They make us forget that investments in timberland assets are somewhat insulated from more…
This is the second in a three-part series related to the financial performance, current trends and changing structure of the timberland investment sector. Part I of Timber in Turmoil (Private Timberland Purgatory) focused on the history versus current reality of more…
This is the first in a three-part series related to the financial performance, current trends and changing structure of the timberland investment sector. While trees continue grow, timberland values continue to fall. In the world of mortals, every financial return more…
Nobel Prize-winning physicist Albert Einstein once said, “the hardest thing in the world to understand is the income tax.” On the other hand, actor Wesley Snipes reportedly said, “taxes are only complicated if you pay them.” (Actually, that might have more…
People who cite a rising stock market as evidence of economic health (1) make me nervous and (2) remind me what Timber REIT said to Timberland as they walked out of the gym: “You’re such a hard asset.” Roiled and more…
Executive Summary: all timberland investment vehicles exceed US Treasury benchmarks over long time frames; timber REIT dividend distributions enhance yields to help offset short term share price volatility. U.S. Treasuries remain a common benchmark for private timberland investments. Why? Relative more…