The Land Report

2018.2

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA GREAT LAKES $17.3M Easement to Protect 67,347 Acres in Wisconsin The state's DNR has ex- tinguished development rights on 100 square miles of forestland straddling the Mississippi and Great Lakes watersheds. GREAT PLAINS Waurika Farms Sells at Auction for $11M Hall & Hall Auctions sold the Drummond family's Oklahoma cattle opera- tion for $1,833 per acre, well above pre-sale estimates. SOUTH American Forest Management Buys International For- estry Consultants AFM currently manages 4.5M acres of privately owned timberland. The acquisition launches it into the Pacific Northwest. WEST Sporting Ranch Capital Management Debuts Jay Ellis will topline the Dallas-based private equity fund, which focuses on undervalued ranch properties across the Rocky Mountain West. SOUTHWEST Arizona Governor Vetoes Legislation Seeking Federal Lands The bill demanded Uncle Sam turn over title to 48,000 square miles of public lands. Jan Brewer respectfully declined. MIDWEST Farmland Values Continue to Climb in Seventh District The Chicago Fed reports that farmland values in this key agricultural belt continued their climb in 1Q. Complete details on pages 24-25. PACIFIC George Lucas Shelves Movie Studio Plans for Grady Ranch Despite great effort, the Marin County landowner failed to sway opponents of his studio. He saw more jobs. They saw more traffic. Everyone loses. NORTHEAST Nantucket's Swain's Neck on Market for $59M The 1997 sale of the 68-acre estate to Russell Phelon set a New England record. Gary Winn at Maury People Sotheby's has the listing. 20 The LandReport | S U M M E R 2 0 1 8 LANDREPORT.COM A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA GREAT LAKES Universal Forest Products to Enjoy Continued Growth Through 2019 UFPI sells lumber and composites to retailers and construction firms. Analysts predict uptick over the next four quarters. GREAT PLAINS Higher Energy Prices Trigger Tallgrass Growth TGE provides natural gas transportation ser- vices in the Rockies and the Midwest. Analysts expect both revenues and earnings to grow in 2018. SOUTH OPEC Instability Sets Stage for Murphy Oil Over the last few years, MUR has topped out at $34. But production woes in Venezuela and Iran can change that scenario quickly. WEST William O'Neil Ranks Boise Cascade Earnings in Top 10 Percent The robust US housing market has accelerated BCC's building materials division into high gear. A $55 target looms large. SOUTHWEST Viper Energy Partners Jumps to Low $30s We recommended VNOM in the 2018 Texas special issue; it surged 50 percent. Shares may be ready to move up again. Set your sights on $41. MIDWEST Fertilizer Sales Bolster Bottom Line of CF Industries Converting natural gas into fertilizer wasn't as profitable as expected in 2017. But CF sales have rebounded sharply. Expect more of the same. PACIFIC Calavo Growers Sees Three-Year Earnings Growth of 28 Percent Avocado marketer CVGW has seen shares pull back with the broader market. However, analysts project EPS growth of 40 percent. NORTHEAST Is CNX Poised to Make a Move Into the $20s? Formerly CONSOL Energy, CNX has 1 million-plus net acres in the Marcellus and Utica shales. If shares eclipse $18.10, make your move. WALL STREET BULL © STUART MONK / SHUTTERSTOCK.COM

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