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From the desk of Neena Mishra, Director of Equity Research: Rayonier (RYN) reported its Q3 results before market open on October 26, 2010. Net income for the quarter came in at $63 million or $0.77 per share, 19 cents ahead more…
Weyerhaeuser (WY) ended last week by declaring a regular quarterly dividend of $0.05 per share, payable on December 1, 2010 to shareholders of record at the close of business on November 5, 2010. Due to the increased share count to 536 million more…
Timberland assets provide to their owners the option of altering the mix and timing of forest harvest activities. During adverse market conditions, public timber REITS embrace this “option value.” Over the past three years, we have seen Plum Creek (PCL), more…
Publicly-traded timber REITs – Plum Creek (PCL), Potlatch (PCH), and Rayonier (RYN) – continue to outperform the S&P 500, as measured by the Forisk Timber REIT (FTR, “footer”) Index. Key results as of September 20, 2010 include: FTR Index up more…
With the payment of a $5.6 billion special dividend on September 1, 2010, Weyerhaeuser (WY) will have satisfied all of the requirements for its conversion to a real estate investment trust (REIT). We described the tax implications of the dividend more…
As a major final step in its long road to converting to a real estate investment trust (REIT), Weyerhaeuser (WY) announced a special dividend of $5.6 billion on July 11, 2010. Previously, we detailed Weyerhaeuser’s (WY) REIT conversion timeline, which more…
Days after Plum Creek (PCL) posted second quarter earnings on July 26th (see “Plum Creek Beats the Street“), the balance of the timber REITs – Potlatch (PCH), Rayonier (RYN) and soon-to-be-REIT Weyerhaeuser (WY) – reported their results. Neena Mishra, Forisk’s more…
After the market closed yesterday (July 26th), Plum Creek (PCL) reported its second quarter 2010 earnings of $35 million, or $0.21 per diluted share, on revenues of $258 million. Neena Mishra, Forisk’s Director of Equity Research, put the results into more…
In a previous post, we detailed the timeline that would play out once Weyerhaeuser (WY) declared its special dividend, which is the final step required by the IRS for WY to complete its REIT conversion.* WY pulled the trigger more…
As a researcher, I enjoy exploring and testing questions related to forest economics, wood bioenergy and timber investments. Why? The finance of forestry brings together a globally available, renewable asset with attractive investment characteristics that continues to generate interesting issues more…