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This is the second in a series related to Forisk’s research of U.S. timberland ownership. “Industrial” timberlands – those acres owned and managed with a primary objective of generating more wood volumes in less time than publicly or other privately more…
This is the first in a series related to Forisk’s research of U.S. timberland ownership. Since 2010, Forisk has tracked U.S. timberland ownership to support its forestry investment research and study of timberland investment vehicles. In 2012, we published for more…
This is the third in a series related to the 2014 Forisk Forecast. Question What is the status of the Panama Canal expansion and its implications for the U.S. forest industry? Short Answer The expansion of the Panama Canal has more…
CatchMark Timber Trust (CTT), formerly the private Wells Timber REIT, became a publicly-traded timberland-owning REIT on the New York Stock Exchange effective December 12, 2013. CatchMark’s IPO represents a pure, and path-breaking, “private-to-public” timber play. Investors and timberland investment managers, more…
NCREIF recently reported Q4 2013 total returns for private US timberlands of 5.92%. This total return number accounts for nearly two-thirds of the total 9.69% return for all of 2013. Big moves during the fourth quarter for the NCREIF Timberland more…
The phone rings. Our forest manager wants to increase the budget for fertilization in 2014. How do we account for the original investment – the original capital used to acquire the timberland – when evaluating new projects for the same more…
In 1849, Martin Faustmann read an article about forest valuation and found it wanting. A German forester and appraiser, he developed and published an alternative technique for valuing bare forestland, or “dirt,” for tax purposes. Faustmann’s approach, a special application more…
In 2012, publicly-traded timberland-owning REITs, as measured by the Forisk Timber REIT (FTR) Index, outperformed the S&P 500, private timberland investments and the universe of publicly-traded real estate investment trusts: S&P 500 (2012): 13.41% Public REITs (NAREIT, 2012): more…
This post includes excerpts from the September 19th “Accounting for Inflation in Timber Forecasts” presentation at the 2013 “Who Will Own the Forest?” (WWOTF) conference in Portland, Oregon. In 1913, one dollar bought 18 loaves of bread or three gallons more…
This is the third in a series related to Forisk’s 2013 mid-year forecast of softwood stumpage prices in the United States. The United States has more softwood trees than you can shake a stick at. Forisk analysis of U.S. Forest more…