The NCREIF Timberland index returned 0.77% in the third quarter, consisting mostly of 0.71% income return, and appreciation of 0.06%.
The annual return for the one-year period through Sept. 30 was 9.26%, down from last quarter's 10.02% return and down from the one-year return of 10.48% for the same quarter last year.
In a news release, Ryan Reddish, acquisitions analyst for Forest Investment Associates and chair of the NCREIF Timberland Committee, said “timberland properties produced positive cash flows across all four regions of the index, a trend that should continue as the U.S. housing market strengthens.”
The most recent data from the U.S. Commerce Department show that housing starts increased 6.5% in September.
