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Sep. 11, 2013, 3:50 PM
- U.S. REITs had a tough August, falling 6.23% on a total return basis, according to NAREIT. The YTD return has now gone slightly negative. This compares to the S&P 500 off 2.9% in August and up 16.15% YTD.
- Not all sectors are down though. Lodging/Resorts leads, gaining 10.85% YTD. Self-Storage, Manufactured Homes, and Timber (CUT, WOOD) have also gained.
- Leading on the downside are mortgage REITs (MORT), off 5.59% YTD. Apartments and Retail are also posting losses YTD.
- REIT ETFs: FRI, WREI, FTY, ICF, IYR, REM, REZ, RTL, PSR, KBWY, SCHH, RWR, VNQ, DRN, URE, DRV, SRS, REK, ROOF, REZ, MORL.
Nov. 6, 2012, 11:13 AMBrookfield Asset Mangement (BAM) nears a deal with China Investment Corp. to sell a 12.5% stake in its Canadian timber assets for about $100M, according to sources. Brookfield has made clear it intends to monetize these assets and has found a willing buyer in CIC which has made clear its desire to shift investments from paper to real things. | Comment!
Jul. 18, 2012, 12:10 PMHarvard is taking a shine to natural resources - particularly timber (WOOD, CUT) - maybe at the expense of private equity and hedge funds, according to the normally secretive endowment chief Jane Mendillo. Of distressed credit in Europe, she's interested, but notes it's the hot new investment area and will take a pass for now. | Comment!
Jun. 11, 2012, 12:39 PMComposite lumber prices are up 26% YTD, and Goldman Sachs sees continuing favorable wood products pricing given a U.S. housing recovery and unfilled order-to-inventory ratios above the five-year average. The firm adds Weyerhauser (WY +0.2%) to its Americas Conviction List with a 12-month target price of $25. | Comment!
Jan. 19, 2012, 11:24 AMSA author Bear Fight makes the case for timber stocks - pointing to the sector's low correlation to other asset classes and the ability for investors to hedge against inflation. Another intriguing feature in an era of low interest rates, timber companies can offer steady dividends (3%-4%) by buying land with different maturity dates. Favorite sector picks: RYN, PCL, PCH, WY. | Comment!
Oct. 10, 2011, 10:02 AMCorrectly calling copper "a doppelganger for whatever stock prices do," Tom McClellan suggests dropping the tired "Dr. Copper" moniker. Have a look at lumber - uncorrelated from "risk on/off," it may make a better economic indicator. Its recent move into contango suggests prices (and the economy) are headed higher soon. | 9 Comments
Dec. 26, 2008, 1:08 PM
Jun. 30, 2008, 1:44 PM
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CUT vs. ETF Alternatives
The Guggenheim/Beacon Global Timber Index ETF (NYSE:CUT), the "Fund", seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the Beacon Global Timber Index (the “Index”). The Index is designed to track the performance of common stocks of global timber companies. The universe of eligible securities includes firms that own or lease forested land and harvest the timber for commercial use and sale of wood-based products, including lumber, pulp or other processed or finished goods such as paper and packaging. The Fund will normally invest at least 90% of its total assets in common stock, American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”) that comprise the Index. Guggenheim Advisors, LLC (the “Investment Adviser”) seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. A figure of 1.00 would represent perfect correlation. The Fund, using a low cost "passive" or "indexing" investment approach, will seek to replicate, before expenses, the performance of the Beacon Global Timber Index. All stocks in the Index are selected from the universe of global timber companies. Beacon Indexes LLC (“Beacon” or the “Index Provider”) defines global timber companies as firms who own or lease forested land and harvest the timber from such forested land for commercial use and sale of wood-based products, including lumber, pulp or other processed or finished goods such as paper and packaging. Potential Index constituents include securities with market capitalizations greater than $300 million, which includes securities of all market capitalizations, as determined by Beacon. Beacon does not guarantee the inclusion of all relevant companies in the Index.
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