Jan. 30, 2014, 5:30 PM
Dec. 12, 2013, 7:58 AM
- JPMorgan's Phil Gresh takes a peek into the timber REIT industry, initiating Weyerhaeuser (WY) with a Buy and $37 price target and Rayonier (RYN) with a Sell and $48 price target.
- "We see WY as a unique demand/cost-takeout story in the timber REIT sector. On the demand side, WY should benefit from a steady improvement in domestic housing...and international log markets."
- On RYN: "Our primary concern is that potentially slowing demand, when combined with excess supply in a high-margin business, could lead to a multi-year pricing headwind."
Nov. 4, 2013, 6:13 AM
Nov. 4, 2013, 2:06 AM
- Tri Pointe Homes (TPH) is reportedly closing in on a $2.7B deal to merge with Weyerhaeuser's (WY) homebuilding division using a tax-efficient structure called a Reverse Morris Trust.
- Weyerhaeuser will spin off the unit so that it can combine with Tri Pointe Homes, which will retain management control. Weyerhaeuser's shareholders are set to own 80.5% of the new entity and Tri Pointe's shareholders the rest.
Oct. 25, 2013, 7:16 AM
- Weyerhaeuser's (WY) net profit rises to $157M from $117M last year.
- Net sales of $2.2B were up 12.2%.
- Timeberlands Q3 net sales $547M vs $499M in Q2; contribution to earnings $118M vs $114M; anticipates comparable earnings in Q4.
- Wood products Q3 net sales $1.05B vs $1.08B in Q2; contribution to earnings $79M vs $136M; anticipates lower earnings in Q4, "due to seasonally weaker sales volumes and higher log costs."
- Cellulose fibers Q3 net sales $474M vs $476M in Q2; contribution to earnings $47M vs $57M; expects significantly higher earnings in Q4.
- Real estate Q3 net sales $324M vs $267M in Q2; contribution to earnings $33M vs $14M; expects significantly higher earnings from single-family homebuilding in Q4. (Previous) (PR)
Oct. 25, 2013, 6:00 AM
Oct. 25, 2013, 12:05 AM
Oct. 24, 2013, 5:30 PM
Oct. 21, 2013, 4:38 PM
- Tri Pointe Homes (TPH) spiked before the close to a 6% gain on a Reuters report that the company is in advanced talks to buy Weyerhauser's (WY) homebuilding unit for ~$2.7B.
- WY, which said in June it was reviewing strategic options for the homebuilding and real estate development unit, is said to be trying to finalize a sale to TPH as soon as in the next two weeks.
- Taylor Morrison Home (TMHC) and Brookfield Residential Properties (BAM) are among the companies that also have been in talks with Weyerhaeuser about buying the division, according to the report.
Oct. 10, 2013, 12:00 AM
Sep. 20, 2013, 5:34 PM
- Weyerhaeuser's (WY) homebuilding division is attracting interest from Brookfield Residential Properties (BRP), the land developer and home builder controlled by Brookfield Asset Management (BAM), WSJ reports.
- Weyerhaeuser Real Estate Co. executives reportedly have met with bidders to answer questions about its operations; while some bidders are interested in only a portion of the unit, BRP is said to be interested in buying the entire group.
- BAM's size - $180B in assets - might prove an advantage vs. other interested parties since WY wants to sell the homebuilding division in a reverse Morris trust, a tax-free method of spinning off a division to be merged with an acquirer.
Aug. 23, 2013, 4:30 PM
- Weyerhaeuser (WY) announces plans to restart production at its Evergreen, Ala., mill after a four-year interruption, as demand for its wood products picks up.
- WY had shut the mill due to weak demand for wood products in North America as the recession took hold; the Evergreen plant produces headers, joists and beams used in home building.
Aug. 20, 2013, 9:07 AM| Comment!
Aug. 15, 2013, 3:11 AM
Aug. 14, 2013, 3:26 AM
- Weyerhaeuser (WY) has reportedly received preliminary expressions of interest for its home-building unit from unnamed suitors. The timber conglomerate said in June that it was evaluating the options for the business, which is valued at over $3B.
- Most of the biggest house builders in the country are expected to look at buying the operations, attracted by the thousands of lots it owns that are ready or close to ready for construction, especially in California.
- "It's going to move the needle for most builders," says Florida-based consultant Michael Kahn.
Jul. 26, 2013, 7:46 AMMore on Weyerhaeuser (WY -0.9%) Q2: net profit more than doubles to $196M; excluding special items from the prior year, net profit more than quadruples. Net sales +19.6% to $2.14B, the highest since 2008. Gross margin widens to 22.3% from 15.4% despite an increase in input costs. Revenue breakdown: wood products +36% to $1.08B, Timberlands +22%, cellulose fibers +3.7%. Backlog of homes sold, but not closed, 1,438 units vs 1,033 units a year ago. In Q3, anticipates lower earnings from Wood Products and Timberlands, comparable earnings from Cellulose Fibers, and slightly higher income from single-family homebuilding. (PR) | Comment!
WY vs. ETF Alternatives
Weyerhaeuser Co is a real estate investment trust. It is a private owner of timberlands. The Company owns or controls nearly seven million acres of timberlandsin the U.S., and managesadditional timberlands under long-term licenses in Canada.
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