NCREIF Timberland Index in Q3 returns 2.38%, up from 1.87% in previous quarter and up from 1.89% in Q3 2021; total Timberland Index rolling one-year return at 12.54%; value per acre at US$1,887 as of Q3, up 2.07% from its previous quarter mark

Sample article from our Forestry & Timberland

CHICAGO , October 25, 2022 (press release) –

The National Council of Real Estate Investment Fiduciaries (NCREIF) has released third quarter 2022 results of the NCREIF Timberland Index. The index returned 2.38% for the quarter, up from 1.87% last quarter and up from 1.89% in the third quarter of 2021. The EBITDDA return, at 0.72%, was down from the second quarter of 2022, while the appreciation return in the third quarter increased 61 basis points quarter-over-quarter, up to 1.66%.

The Total Timberland Index had a 12.54% rolling one-year return, comprised of a 3.22% EBITDDA and 9.11% appreciation return.

Timberland Quarterly Total Return Trends by Region

Returns for the quarter were positive across all regions. The Northwest region had the highest return of the third quarter at 2.56%, comprised of 0.92% EBITDDA and 1.64% appreciation returns. The South region returned 2.54% for the quarter, driven by an appreciation return of 1.89%. The Northeast and Lake State regions returned, respectively, 1.11% and 0.78% for the quarter, driven by positive EBITDA returns of 0.72% and 0.81%.

Timberland Market Value per Acre in USD by Region

Timberland market value per acre was $1,887 for the third quarter, up 2.07% from its previous quarter mark. Three regions experienced per acre market value increases. The South, Northwest and Northeast regions ended the quarter with market values per acre of $1,920, $2,927, and $1,516, respectively, representing increases of 2.05%, 1.73% and 6.95% from the second quarter values.

The NCREIF Timberland Index consists of 466 investment-grade timber properties with a market value of $24.5 billion. This includes 324 properties in the South, 84 in the Northwest, 39 in the Northeast, and 17 in the Lake States. This data enhances the ability of institutional investors to evaluate the risk and performance of timberland investments across the United States.

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