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Part I of Timber REITs and the “Dividend Tax” Cliff summarized, in words, the implications to shareholders of publicly-traded timberland-owning REITs if the current dividend tax rate expires on December 31, 2012. This post quantifies the implications and puts into more…
This is the first in a two-part series summarizing implications to timber REIT shareholders from expiry of the current tax provisions specific to dividend income. Fear battles greed once again as chronicled by the business press in the looming “fiscal more…
No. Let me explain. On October 29th, 2012, Hurricane Sandy – crowned “Superstorm Sandy” by the media – landed on the East Coast of the United States, disrupting businesses from North Carolina to Maine and west to Michigan and Wisconsin, more…
In forestry and timberland investing, sometimes our job is to get out of our own way. In other words, let the forestry asset do what it’s going to do for us given it’s inherent exposures to housing and pro-cyclical financial more…
Rayonier’s (RYN) announced ten percent dividend increase reminded me of the well-traveled quote from investor and Dallas Mavericks owner Mark Cuban on stocks and dividends: I believe non dividend stocks aren’t much more than baseball cards. They are worth what you more…
As we hit midfield for 2012 and closed out the second quarter, the timber REIT sector as measured by the Forisk Timber REIT (FTR) Index posted a 12.09% gain relative to 8.31% for the S&P 500 (click here for the 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…
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…
As of March 30th, publicly-traded timberland-owning REITs, as measured by the Forisk Timber REIT (FTR) Index, returned 11.45% year-to-date. This culminated a month of coverage and articles that highlighted both Forisk’s equity research of timber REITs and the performance and more…