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Days after Plum Creek (PCL) posted second quarter earnings on July 26th (see “Plum Creek Beats the Street“), the balance of the timber REITs – Potlatch (PCH), Rayonier (RYN) and soon-to-be-REIT Weyerhaeuser (WY) – reported their results. Neena Mishra, Forisk’s more…
After the market closed yesterday (July 26th), Plum Creek (PCL) reported its second quarter 2010 earnings of $35 million, or $0.21 per diluted share, on revenues of $258 million. Neena Mishra, Forisk’s Director of Equity Research, put the results into more…
In a previous post, we detailed the timeline that would play out once Weyerhaeuser (WY) declared its special dividend, which is the final step required by the IRS for WY to complete its REIT conversion.* WY pulled the trigger more…
As a researcher, I enjoy exploring and testing questions related to forest economics, wood bioenergy and timber investments. Why? The finance of forestry brings together a globally available, renewable asset with attractive investment characteristics that continues to generate interesting issues more…
Interested in owning Weyerhaeuser (WY) shares prior to a special dividend distribution? In 2009, the company announced its intent to convert to a timberland-owning real estate investment trust (timber REIT). With this likely to occur in 2010, it requires WY more…
On the evening of August 4th, 2010, Neena Mishra, our Director of Equity Research, and I will teach a Master Class on “Valuing Timber REITs.” This follows our day-long course on “Applied Forest Finance”, which is co-taught by our Forest more…
“Inflation at 44-Year Low” trumpeted today’s headline from the Wall Street Journal. The news was pause-worthy at our shop because one of the most common arguments for investing in timberland is its purported potential to hedge inflation. Well, does it? more…
The New Yorker magazine published a cartoon in its May 17, 2010 issue of two trees talking in the woods. One says to the other, “Can you believe that people inhale the gases we expel – sick, right?” The cartoon more…
Institutional and individual investors often ask, “what is the difference between investing in timberlands directly and buying stock in publicly-traded timberland-owning real estate investment trusts (timber REITs)?” In brief, one is direct ownership of a hard asset while the other more…
Capital Press – The company is most likely letting the market figure out how much the transaction is worth on a per-share basis, said Brooks Mendell, president of Forisk Consulting, a firm that tracks timber industry finances. The Internal Revenue Service more…