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Tom Kametz

 
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  • Weyerhaeuser moving headquarters to Seattle [View news story]
    No 60% is in the South
    Sep 24 10:18 AM | Likes Like |Link to Comment
  • Weyerhaeuser moving headquarters to Seattle [View news story]
    It would make more sense if they moved to Atlanta or some point South.
    Aug 28 11:16 PM | Likes Like |Link to Comment
  • Why Plum Creek Timber Is A Hold [View article]
    LPX is a forest products company rather than a timber company so it is not a good compatible to PCL. Also, WY has sawmills and pulpmills so it is a little different than PCL. Also, WY still has some noise in its numbers from its 2010 REIT conversion, and the recent sale of its home building division.
    Jul 18 03:12 PM | Likes Like |Link to Comment
  • Dividends Do Matter - Especially In Retirement [View article]
    The way I look at it is that I invest in a company to be a partial owner. The dividend is my share of the profits.
    Jul 18 08:16 AM | 7 Likes Like |Link to Comment
  • CatchMark Timber Trust: The Newest Timber REIT [View article]
    It been about six months, I'm not sure the froth is out yet. I'm not familiar with Arborgen but it looks like maybe MWV old genetics program is trying to go it alone?
    Jul 13 09:40 AM | Likes Like |Link to Comment
  • Rayonier's CEO Is Jumping Ship To Its Spin-Off - Should You? [View article]
    In the call about RYAM, they said the dividend would be in the 1 to 2 percent range. I would expect RYN to be 3 - 4 percent.
    Jun 19 11:24 AM | Likes Like |Link to Comment
  • Rayonier's CEO Is Jumping Ship To Its Spin-Off - Should You? [View article]
    I think you are making more of RYNs CEO going with RYNAM than is justified. Mr Boynston had to go with one or the other. It is only natural that he goes with the larger entity. Also, Mr. Boynston's background, other than at RYN, is in engineering and business rather than the timber industry. RYN's new CEO, Dave Nunes comes from Pope Resources and Weyerhaeuser and has an excellent timber background.
    Jun 17 03:25 PM | 9 Likes Like |Link to Comment
  • Here's The Evidence For What Stock Splits Really Signal [View article]
    Maybe it's for the opposite reason. Stocks don't perform better after a split, but only shocks doing particularly good split!
    Jun 10 10:36 AM | 2 Likes Like |Link to Comment
  • A Few Reasons Why I'm Still Attracted To Shares Of Plum Creek Timber [View article]
    Plum Creeks future depends on the recovery of Southern Pine stump age prices, which depend on housing starts. Although I think this will happen eventually, housing starts have been slow in recovering. Anyway, I think PCL is a buy right now.
    Apr 14 09:23 PM | 1 Like Like |Link to Comment
  • Deltic Timber Corp., A Second Look [View article]
    I would not consider SPB as a major risk. Every now and then there is an outbreak, and sometimes it could be significant. However, I consider it a normal risk in southern pine management. It is not like the Mountain Pine Beetle in Canada.
    Apr 3 07:41 PM | Likes Like |Link to Comment
  • Allowing Your Money To Grow On Trees With These REITs [View article]
    Zvi, good article. RYN, however, does not build houses as WY does. It's real estate business does develope land and sell to home builders.
    Apr 3 10:46 AM | Likes Like |Link to Comment
  • Plum Creek Timber Biding Time [View article]
    Low interest rates are meaningless if you are unemployed.
    Mar 26 11:13 AM | 3 Likes Like |Link to Comment
  • Plum Creek Timber Biding Time [View article]
    I agree, waiting for pine sawtimber prices to recover is like waiting for Godot. The current regimes policies are holding the housing recovery back so I see a few more years of stagnant growth. When it does come, however, PCL and the other timber REITs will be a great place to be.
    Mar 26 12:32 AM | 1 Like Like |Link to Comment
  • Timberland Values Increase 9.69% In 2013 [View article]
    There seems to be some misunderstanding on what I am saying in this article. Timber companies own timberland. Timberland is in high demand and is a very liquid asset. My point is that in 2013 this asset appreciated by about 9.69%. Now the stock price may or may not reflect the true asset value of the land owned by the timber company. In fact, there is nothing in the GAAP accounting that is reported that gives any clue of the underlying asset value. What is on the books is the original purchase price updated for depletion. Here is an example, the estimates are mine.

    Pope Resources
    Acres $/Acre Total
    Fee Timberland 110,500 $3,500 $386,750,000
    Timber Funds 13,700 $3,200 $43,840,000
    Real Estate 2,500 $10,000 $25,000,000
    Total 126,700 $455,590,000
    Debt ($39,199,000)Net $416,391,000

    3/18/14 Market Cap $300,000,000
    3/18/13 Market Cap $265,300,000
    3/18/12 Market Cap $190,000,000
    As you can see there is little correlation between the stock price and the value of the assets owned by POPE. It is my contention that you could liquidate the company and get around $95 per unit. It is trading today at about $68.70.
    Mar 18 06:23 PM | 3 Likes Like |Link to Comment
  • Timberland Values Increase 9.69% In 2013 [View article]
    I see no problem with dividends from RYN, ACAZf, and POPE. I'm not too familiar with Norbord.
    Mar 16 11:46 PM | Likes Like |Link to Comment
COMMENTS STATS
128 Comments
140 Likes