Investopedia: Wait For A Better Chance On Plum Creek

Timber is a great investment class, and Plum Creek Timber (NYSE:PCL) is one of the biggest and best operators in the field. So that's it then, right? Just buy Plum Creek shares and hang on for the long haul.

Actually, for some investors that may not be bad advice. Timber is a renewable resource but the long-term demand outlook is very solid and the available land base is shrinking. Still, for investors who cannot stomach the thought of 20% short-term losses, timing is more important and there are factors beyond the long-term timber demand outlook to consider. (For more, see Timber Investments Cut Down Portfolio Risk.)

Still a Rough Market in the First Quarter  
As Plum Creek's results show, the tough times are not over yet in the timber market. Revenue dropped 13% from last year, led by a 37% decline in real estate sales. In the timber business, the company did benefit from better pricing in the Northern segment, which resulted from the Chinese demand. Business is still tough in the South, though, and overall, timber revenue fell 7%. 

To read the full piece:
http://stocks.investopedia.com/stock-analysis/2011/Wait-For-A-Better-Chance-On-Plum-Creek-PCL-WY-LPX-RYN-PHM-DHI-TOL0427.aspx