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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…
I woke up, on schedule, at 4:14 in the morning, rolled over and switched off the alarm before it chimed. At 4:15, the phone buzzed. “Good morning, Nephew!” said Aunt Fanny. “You up?” “Yes, Ma’am,” I said, swinging my legs 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…
This is the second in a series related to timberland investments. The first addressed benchmarking private timberland investments. Real estate investment trusts (REITs) own and manage income producing real estate such as buildings, warehouses, rental properties, and, since 1999, timberlands. more…
Timberland investors depend on the demand for wood from forest industry manufacturers. No wood demand = no cash flow. Fortunately, for these investors, topline wood demand in the U.S., while slow and stuttered, continues to grow. Analysis in the Q3 more…
This is the sixth in a series related to the analysis of timber markets and wood baskets. When evaluating wood or timber markets for investment purposes, “supply” refers to the volume of available, accessible and sustainable sources of raw material more…
This is the second in a series related to the analysis of timber markets and wood baskets. “Nephew, do you know Abe Phroman?” asked Aunt Fanny, looking out into the woods. “Yes, he’s the Sausage King of Chicago,” I said. more…
This is the fourth in a series related to Forisk’s Q2 2015 forest industry analysis and timber price forecasts for the United States. In the United States, “industrial” timberlands, or privately owned acres managed to maximize wood volume and cash more…