I know nothing about timber nor the timber busness but know a little about owning land. The much balleyhooed land sale is for $550.00 per acre. My question is what value does the land have if it doesn't have timber potential?
One of the new posters below mentioned the PE of PCL. I would point out to him that a REIT rarely has a decent PE. Most REIT's I consider are for safety and income not future appreciation. In the past couple of years it has worked out a lot better than the utilities but even they are coming back now.
A final observation is that owning land is a poor way to make a living but if you are successful at it you do get rich in the end. I would hope the same turns out to be true with REIT's as I have quit buying land. Too danged much work. Don't want to sell any land but don't want to buy any more either.