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From the desk of Neena Mishra, Director of Equity Research: While Weyerhaeuser (WY) has completed all steps required for converting to REIT status, it technically becomes a REIT upon (1) filing its tax return in early 2011 and (2) electing more…
Earlier this month, Florida voters rejected a constitutional amendment that would have changed the state’s development approval process. “Amendment 4” – sponsored by the non-partisan Florida Hometown Democracy – would have required a voter referendum whenever a local government amended more…
Black liquor, a byproduct of the wood pulping process, is an alternative fuel under the IRS Code. In addition, when black liquor is combined with at least 0.1% diesel fuel, it is eligible for the Alternative Fuel Mixture Credit (AFMC). more…
From the desk of Neena Mishra, Director of Equity Research: While investing directly in timberlands requires high starting capital, retail investors can choose from other vehicles which provide exposure to timber and forest products such as REITs, related C-Corporations or more…
From the desk of Neena Mishra, Director of Equity Research: Weyerhaeuser (WY) reported its Q3 2010 results before market open on October 29, 2010. Excluding the income tax adjustment of $1.035 billion (related to its impending REIT conversion), net earnings more…
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…