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.
Follow this link to the full article:
The Wait At Plum Creek Timber Stretches On
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