The housing recovery thesis has fractured this year, with some housing/construction names doing relatively well and others faring pretty poorly. For the timber companies (Weyerhaeuser (NYSE:WY), Rayonier (NYSE:RYN), Potlatch (NASDAQ:PCH), and Plum Creek (NYSE:PCL)), it hasn't been a great time as sawlog prices have yet to really recover and opportunities to sell land to real estate developers are still relatively limited. While it may be true that patience on Plum Creek will pay off and that management is making a good decision by reducing harvest levels over the near term, it's not going to encourage most investors to reconsider the shares today.
Results Were Okay...
Plum Creek didn't have a terrible...
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