HAUZ - Timber REITs: Renewable Dividends

• Across the land, there are few better inflation hedges than land itself. Timber REITs own nearly 30 million acres of land, more acreage than the smallest U.S. five states combined.
• Truly an "organic growth" sector, Timber REITs - which were initially slammed at the outside of the pandemic - have come roaring back to life over the last twelve months.
• Record profitability this year has translated into significant dividend growth. Last week, PotlatchDeltic boosted its regular quarterly dividend by 7.3% and declared a sizable $4/share special cash dividend.
• Lumber prices had dipped over 50% from their early-summer peak to their lows in late-August, but have come surging back over the past three months amid a housing industry reacceleration.
• For investors that can tolerate the volatility, valuations and long-term fundamentals appear compelling amid robust housing demand, record-low housing supply, as well as a substantial backlog of home construction.

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