COM - Timberland REIT stocks slip as lumber prices continue to fall

Timberland REIT stocks drop as lumber futures continue to skid for a second session after touching a record high about a week ago.Lumber futures ([[LB1:COM]] -14.9%) touched $1,711.20 on May 10, and have since slumped 22% to ~$1,327.00.As a result, stocks of timberland owners also retreat: Weyerhaeuser ([[WY]] -0.6%), Catchmark Timber Trust ([[CTT]] -1.2%), Rayonier ([[RYN]] -0.9%), and Potlatchdeltic ([[PCH]] -0.9%).Most homebuilder stocks are also falling, although falling lumber prices should lower their costs. Earlier today, the NAHB Housing Market Index held at 83 in May, but below November 2020's reading of 90.Among the decliners: D.R. Horton ([[DHI]] -1.6%), KB Home ([[KBH]] -2.0%), PulteGroup ([[PHM]] -1.4%), Toll Brothers ([[TOL]] -2.1%), and Lennar ([[LEN]] -2.3%).One exception: Hovnanian Enterprises ([[HOV]] +0.1%).

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Timberland REIT stocks slip as lumber prices continue to fall