Pope Resources LP

Pope Resources LP

Pope Resources LP

Overview
Date Founded

1985

Headquarters

19950 7th Avenue NE,Suite 200,Poulsbo, WA 98370

Type of Company

Public

Employees (Worldwide)

70

Industries

Lumber & Forest Products
Real Estate

Company Description

Pope Resources LP engages in the ownership and management of timberland and development properties. It operates through the following segments: Fee Timber, Timberland Investment Management and Real Estate. The Fee Timber segment relates to the growing, managing, harvesting and marketing timber. The Timberland Investment Management segment is focused on organizing and managing private equity timber funds. The Real Estate segment manages development properties and involves in rental of properties. The company was founded in 1985 and is headquartered in Poulsbo, WA.

Executives & Employees

Director, President & Chief Executive Officer

Vice President & Chief Financial Officer

Director of Real Estate & President of Olympic Property Group

Principal Accounting Officer & Controller

Director-Business Development

Director, Timberland Investment

Vice President-Corporate Affairs & Administration

Vice President-Timberland Operations

Board of Directors

President & Chief Executive Officer at Portland General Electric Company

Former Fund Advisor at NWQ Investment Management Co., LLC

Former Senior Vice President & General Counsel at Weyerhaeuser Company

Acting Treasurer at National Alliance of Forest Owners

Director, President & Chief Executive Officer at Pope Resources LP

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Owners & Shareholders
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Private Capital Management (PCM) follows a single fundamental value-based investment discipline. The firm invests primarily in publicly traded equity securities that trade on North American (predominantly US) exchanges. On occasion, investments may include publicly traded limited partnerships. For certain clients (including clients invested in PCM's Value Focus Strategy or the private and public investment funds they manage), the firm has the ability to invest in various financial instruments or derivatives (options) as well as non-equity securities such as corporate debt. PCM also has the ability to execute short sales for clients that have margin accounts and have permitted short selling. While the securities in which the firm invests typically trade on North American exchanges, they may be issued by companies that are based in, or have significant operations within, foreign countries; and companies that derive a significant portion of their revenues from outside North America. PCM manages two portfolio strategies: Value Equity Strategy and a more concentrated Value Focus Strategy. Both strategies are grounded on the firm's bottom-up investment approach. Clients who participate in the Value Equity Strategy are allowed to impose reasonable restrictions on their accounts, including limitations on investments in specific securities, industries, or sectors. PCM may invest in companies of any market-cap and and typically assumes an investment horizon of 3 to 5 years.

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Cannell Capital employs fundamental, bottom-up research to make investment decisions. In general, the firm utilizes a strategy that focuses on investing long/short in the equities publicly traded, generally small-cap located primarily in North America. Cannell Capital is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Hollencrest Securities (HCM) employs a portfolio management approach, called \"CASPer\" (Client Allocation and Security Parameters), that is based on Modern Portfolio Theory, and in which HCM works with clients to assess the kind and amount of expected risk and return that are believed reasonable based on the client's circumstances. HCM uses a client's specific situation and other quantitative, technical and qualitative factors in order to determine the optimal portfolio structure, which is typically comprised of an allocation of assets across a matrix of different investment portfolios, ranging from Moderately Aggressive to Conservative risk profiles. In certain instances, HCM may create a fully customized portfolio to meet a client's specialized investment needs.For client portfolios, HCM may include traditional securities, such as domestic and foreign equity and fixed income securities, and cash/cash equivalents. They sometimes invest in mutual funds, ETFs, ETNs, REITs, options and warrants in order for clients to gain exposure to certain asset classes or investment thesis. HCM also uses non-traditional and at times illiquid investments, including alternative investments, variable annuities, commodities, hedge funds, funds-of-funds, private equity securities, venture capital funds and private real estate investments. HCM is tax conscious and considers ways to help clients improve their tax efficiencies when managing portfolios. The asset mix in client portfolios may vary and may be concentrated in a small number of investments or diversified across a variety of investments.HCM may employ various trading strategies (position acquisition or liquidation) including, but not limited to, long-term purchases (held over 1 year), short-term purchases (held under 1 year), securities that may be liquidated within approximately 30-days of purchase, short selling, margin, options and hedging through the use of futures contracts. Additionally, some of HCM's recommendations for Private Investments, structured notes, closed-end funds, mutual funds, ETFs and ETNs engage in alternative or riskier strategies utilizing leverage, derivatives (e.g., options and futures) and/or hedging. HCM may also employ the use of leverage.

Recent Transactions
Details Hidden

Rayonier, Inc. purchases Pope Resources LP

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Electri-Cord Manufacturing Co. purchases Orm, Inc. from Pope Resources LP

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Port Ludlow Associates LLC purchases Pope Resources /Resort & Real Estate Development Businesses from Pope Resources LP

Insider Transactions
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Transaction Advisors
Investment Advisor

Advised onRayonier, Inc. purchases Pope Resources LP

Legal Advisor

Advised onRayonier, Inc. purchases Pope Resources LP

Accountant

Advised onPort Ludlow Associates LLC purchases Pope Resources /Resort & Real Estate Development Businesses from Pope Resources LP

Associate

Advised onRayonier, Inc. purchases Pope Resources LP

Legal Advisor

Advised onRayonier, Inc. purchases Pope Resources LP

Legal Advisor

Advised onRayonier, Inc. purchases Pope Resources LP

Advisors & Consultants
Legal Advisor

Partner at Davis Wright Tremaine LLP

Advisor

Partner at Centerview Partners LLC

Legal Advisor

Former Partner at Davis Wright Tremaine LLP

Clients

Washington is a state in the Pacific Northwest region of the United States located north of Oregon, west of Idaho, and south of the Canadian province of British Columbia on the coast of the Pacific Ocean. Named after George Washington, the first President of the United States, the state was made out of the western part of the Washington Territory which had been ceded by Britain in 1846 by the Oregon Treaty as a settlement of the Oregon Boundary Dispute. It was admitted to the Union as the 42nd state in 1889. Although its official, unambiguous name is "The State of Washington," the state's name is often reversed and referred to as "Washington state" to distinguish it from Washington, D.C., also named for George Washington.

Key Stats and Financials As of 2018
Market Capitalization
$516M
Total Enterprise Value
$710M
Earnings Per Share
$1.54
Revenue
$104M
Net Profit
$6.7M
EBITDAMargin
44.38%
Enterprise Value Sales
6.86x
Enterprise Value EBITDAOperating
15.45x
TEVNet Income
106.06x
Debt TEV
0.21x
EBITDA
$46M
Total Debt
$151M
Total Equity
$339M
Three Year Compounded Annual Growth Rate Of Revenue
9.89%
Five Year Compounded Annual Growth Rate Of Revenue
7.93%
Competitors
Weyerhaeuser Company Trusts & Funds - Federal Way, Washington

Weyerhaeuser Co. engages in the manufacture, distribution and sale of forest products. It operates through the following business segments: Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR); and Wood Products. The Timberlands segment manages private commercial forestland worldwide, which engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products. The Real Estate & ENR segment deliver premiums to timber value by identifying and monetizing higher and better use lands and capturing the full value of surface and subsurface assets. The Wood Products segment delivers lumber, structural panels, engineered wood products and complementary building products for residential, multi-family, industrial and light commercial applications. The company was founded by Frederick Weyerhaeuser in January 1900 and is headquartered in Seattle, WA.

Rayonier, Inc. Trusts & Funds - Jacksonville, FL

Rayonier, Inc. is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography. The Real Estate segment reflects all U.S. land sales, which are reported in the following sales categories: Improved Development, Unimproved Development, Rural, Non-Strategic and Timberlands, and Large Dispositions. The Trading segment reflects the log trading activities that support New Zealand operations. The company was founded in 1926 and is headquartered in Wildlight, FL.

PotlatchDeltic Corp. Trusts & Funds - Spokane, WA

PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Resource, Wood Products and Real Estate. The Resource segment includes planting and harvesting trees, building and maintaining roads, hunting leases, recreation permits, biomass production and carbon sequestration. The Wood Products segment produces and trades lumber, plywood and residuals. The Real Estate segment markets and sells land holdings. The company was founded in 1903 and is headquartered in Spokane, WA.

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