For almost a decade, I held research analyst positions in various investment firms, mostly in Toronto. I started in sell-side research with a Canadian bank, then moved to a hedge fund, followed by a family office and then finished my career in wealth management. I was 20 on my first day on Bay Street. I will forever remember. I had worked so hard to get there, from a small French-speaking town in Québec. Getting my CFA and CAIA designations by 25 was another important milestone. I was a young man with a dre ...

For almost a decade, I held research analyst positions in various investment firms, mostly in Toronto. I started in sell-side research with a Canadian bank, then moved to a hedge fund, followed by a family office and then finished my career in wealth management. I was 20 on my first day on Bay Street. I will forever remember. I had worked so hard to get there, from a small French-speaking town in Québec. Getting my CFA and CAIA designations by 25 was another important milestone. I was a young man with a dre ...

Core Viewpoint - The wood industry, particularly Weyerhaeuser Co., is emerging as a potential investment opportunity amid market volatility and renewed consolidation in the sector [1][2]. Industry Dynamics - The wood industry is experiencing renewed consolidation, highlighted by Rayonier Inc.'s all-stock merger with PotlatchDeltic Corp., signaling a trend that may continue due to tariff impacts [2]. - Lumber prices have increased by approximately 15% since September 2025, contrary to expectations that trade tariffs would contract industry activity [4]. Company Performance - Weyerhaeuser's stock is currently trading at 73% of its 52-week high, indicating potential for further gains [3]. - The company has a price-to-earnings (P/E) ratio of 62.86, significantly above the building products sector average of 27.9, suggesting high investor confidence [8]. - Analysts have set a price target of $32.63 for Weyerhaeuser, indicating a potential upside of 36% from current prices [9][10]. Analyst Sentiment - Institutional investors, such as Allspring Global Investments Holdings, have increased their holdings in Weyerhaeuser by 2.8%, reflecting confidence in the company's future [10]. - Weyerhaeuser's short interest has decreased by 13%, indicating a shift in sentiment as bearish positions are being unwound [11]. Earnings Outlook - Weyerhaeuser reported Q2 earnings with an EPS of 12 cents, exceeding expectations, and the upcoming quarterly release is anticipated to show even stronger growth due to rising lumber prices [12]. - The company's market capitalization of $17 billion positions it as a potential acquisition target, especially if it continues to show strong earnings growth [13].

Core Insights - Longleaf Partners Fund reported a return of -0.33% in Q3 2025, underperforming the S&P 500's 8.12% and the Russell 1000 Value's 5.33% [1] - The fund focuses on investments in real assets and brands that generate growing free cash flow (FCF) per share, with an expectation that the FCF multiple could rise from ~10x to the mid-teens [1] Company Highlights - Rayonier Inc. (NYSE: RYN) is highlighted as a leading timberland real estate investment trust, with a one-month return of -11.61% and a 52-week loss of 25.71% [2] - As of October 23, 2025, Rayonier Inc. shares closed at $23.27, with a market capitalization of $3.6 billion [2] M&A Activity - Rayonier Inc. and PotlatchDeltic announced a merger of equals, which is viewed as a win/win scenario with real synergies that could enhance the value per share of the combined entity [3] - The fund expresses excitement about these complementary investments, noting that both companies were acquired at large discounts and have multiple avenues for growth [3]

Core Viewpoint - The proposed sale of PotlatchDeltic Corporation to Rayonier Inc. is under investigation to assess the fairness of the transaction for shareholders [1] Company Overview - PotlatchDeltic Corporation shareholders will receive 1.7339 common shares of Rayonier for each share they own in PotlatchDeltic as part of the proposed transaction [1]

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the sale of TrueCar, Inc. to Fair Holdings, Inc. at a price of $2.55 per share for TrueCar shareholders [1]. Group 1: Investigation Details - The investigation focuses on whether TrueCar and its board of directors violated federal securities laws or breached fiduciary duties by not obtaining the best possible consideration for shareholders [3]. - Concerns include whether Fair Holdings is underpaying for TrueCar and if all material information necessary for shareholders to assess the merger consideration has been disclosed [3]. Group 2: Potential Actions - On behalf of TrueCar shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, and other relief related to the proposed transaction [4].

Core Viewpoint - Rayonier announced the acquisition of PotlatchDeltic in an all-stock deal, valuing the combined company at $7.1 billion, or $8.2 billion including debt, creating one of the largest lumber companies in the US [1] Industry Overview - The timber industry is facing significant challenges in 2025, with fluctuating prices due to tariffs and trade war uncertainties, alongside crashing demand from a stagnant housing market [2] - Lumber futures dropped 24% from a three-year high in August to a seven-month low in September, with the US Lumber Coalition describing the current market conditions as the worst ever [3] Tariffs Impact - A new round of tariffs on imported lumber and wood products is expected to significantly impact Canada's lumber industry, with softwood lumber facing an effective tariff rate of 45% [3] - The protectionist measures could potentially benefit Rayonier and PotlatchDeltic, both operating as REITs, by bolstering their market position [3] Strategic Advantages - The merger will result in the combined ownership of 4.2 million acres of timberland across 11 states, along with seven wood product manufacturing sites and six lumber mills, positioning the new entity as the second-largest timberland owner in the US [6] - Both companies have also leased land to solar farm developers, with these deals projected to be ten times more profitable than traditional timber operations [4]

Core Insights - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report, having recovered millions for shareholders [1] - The firm is investigating Rayonier Inc. regarding its merger with PotlatchDeltic Corporation, where Rayonier shareholders will own approximately 54% of the combined company [1] Company Overview - Monteverde & Associates PC is a national class action securities firm based in the Empire State Building, New York City, with a successful track record in trial and appellate courts, including the U.S. Supreme Court [2] - The firm emphasizes that no one is above the law and offers free consultations for shareholders with concerns [2] Contact Information - Contact details for Juan Monteverde, Esq. include an office located at The Empire State Building, New York, NY, with a phone number of (212) 971-1341 [3]

Group 1 - Crude Value Insights provides an investment service and community focused on the oil and natural gas sectors, emphasizing cash flow and companies that generate it [1] - The service offers subscribers access to a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [1] Group 2 - A two-week free trial is available for new subscribers, promoting engagement with oil and gas investment opportunities [2]

Core Viewpoint - Rowley Law PLLC is investigating potential securities law violations related to the proposed acquisition of PotlatchDeltic by Rayonier, which involves a stock exchange offer for shareholders [1] Group 1: Acquisition Details - PotlatchDeltic shareholders will receive 1.7339 shares of Rayonier common stock for each share of PotlatchDeltic they hold [1] - Following the acquisition, PotlatchDeltic stockholders will own approximately 46% of the combined company [1] - The transaction is anticipated to close in early 2026 [1] Group 2: Legal Investigation - Rowley Law PLLC is representing shareholders in investigating the acquisition for potential securities law violations [1] - Additional information regarding the investigation can be obtained through Rowley Law PLLC's website or by contacting their office directly [2]