Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Patient Investors Get A Crack At Plum Creek Timber

Timberland investing has become one of the more popular "open secrets" of institutional investing - numerous papers have been published comparing the long-term value and performance of investments in timberland to other asset classes, and timberland has often come out looking quite good. Not surprisingly, that has led to institutional dollars flowing into the asset class, leading to quite a bit of volatility in the price (or value) per acre of this class of real estate.

While investing in timberland itself is not very easy for the average investor, REITs like Plum Creek Timber (NYSE:PCL) offer an appealing alternative. While Plum Creek (and comparables including Weyerhaeuser (NYSE:WY), Rayonier (NYSE:RYN), Deltic (NYSE:DEL), and ...

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