Research - JANUARY 27, 2014

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Timber returns rebound strongly quarter

by Andrea Waitrovich

NCREIF has released the fourth quarter 2013 results from its Timberland Index, returning 5.92 percent, which comprised 5.33 percent appreciation and 0.60 percent income. This is the highest quarterly return since fourth quarter 2007, when the quarterly total return was 9.38 percent.

The rolling four-quarter total return was 9.69 percent, split between 2.80 percent income and 6.75 percent appreciation. This is a slight increase from the third quarter’s 9.68 percent rolling four-quarter return and a significant improvement from a year ago, when the rolling four-quarter return was 7.75 percent.

The Northwest was the best performing region with a 12.29 percent total return. That was composed of 11.38 percent appreciation and 0.91 percent income. The rolling four-quarter return for the region increased to 17.44 percent, an increase from 13.54 percent a year ago and 15.07 percent in the third quarter. The Northeast was the worst performing region with a &ndash

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