My Account | Sign In
This post includes data from featured research in the Q2 2016 Forisk Research Quarterly (FRQ). Timberland investors looking to acquire assets and timber REITs seeking to grow their asset bases both made big moves over the past 16 months. Firms more…
This is the second in a series related to Forisk’s Q2 2016 forest industry analysis and timber price forecasts for the United States. Forisk analysis indicates “investable” timberlands, or privately owned acres managed to maximize wood volume and cash flows, more…
Another incomplete timberland investment thesis resurfaced: timberland as a deflation hedge. Chip Dillon of Vertical Research Partners dusted off this idea during a conference presentation in March. (We have had issues with timberland investment analysis from Mr. Dillon’s team in more…
Timberland investors often use timber REIT dividend yields and U.S. Treasuries as inputs, proxies or reference points for discount rates applied to valuation models. In the case of Treasuries, 2016 opened with the 10-Year and 30-Year at 2.24% and 2.98%. more…
Timber REIT shares suffered with the S&P 500 during two weeks of bubble-bursting activity to open 2016. Through January 15th, the S&P dropped 8% while the public timber REITs scored as follows: CatchMark (CTT): -1.5% Plum Creek (PCL): -13.5% Potlatch more…
December 2015 included multiple global confabs and ripples in the space-time continuum. In Los Angeles, “Star Wars: The Force Awakens” opened. The movie had a record opening weekend, bringing in $248 million in North America alone. In Paris, a United more…
The timber REIT sector tumbled in 2015. The Forisk Timber REIT (FTR) Index fell -9.3% for the year, while the S&P 500 essentially flatlined at -0.7% over the same period. Of the five public timber REIT equities – CatchMark Timber more…
If the proposed merger of the two largest public timber REITs, Plum Creek (PCL) and Weyerhaeuser (WY), does anything, it reminds us of the relative insignificance of timber firms to the REIT sector generally and the stock market overall. Currently, more…
This is the second in a series related to Forisk’s Q4 2015 forest industry analysis and timber price forecasts for the United States. Through Q3 2015, all five public timber REITs traded at prices below where they started the year more…
This is the third in a series related to timberland investments. Previous posts addressed benchmarking private timberland investments and the valuation of timber REITs. How have private timberland investments performed relative to other asset classes? This question opens the door more…