Investor Alert

New York Markets Open in:

Market Pulse Archives

Sept. 2, 2021, 8:22 a.m. EDT

Manulife buys Texas pine timberland in fourth such acquisition in 2021

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Manulife Financial Corp. (MFC)

or Cancel Already have a watchlist? Log In

By Steve Gelsi


Manulife Financial Corp. /zigman2/quotes/202106759/composite MFC +0.88% said Thursday its Hancock Natural Resource Group unit closed its acquisition of 300,000 acres of pine timberland on behalf of the Swedish pension system fund AP3. Hancock Natural Resource Group teamed up on the purchase with TexMark Timber Treasury LP, which is a joint venture managed by CatchMark Timber Trust Inc. . Tom Sarno, global head of timberland investments at Manulife Investment Management, said the purchase marked his team's fourth timberland acquisition this year. Those include two eucalyptus plantations in Brazil and Maine along the Quebec border, as part of Manulife Investment Management's six million acres of timberland and 400,000 acres of farmland. Manulife's shares did not trade in the pre-market. CatchMark Timber Trust shares rose 1.5% on Thursday morning.

$ 19.39
+0.17 +0.88%
Volume: 3.58M
Feb. 7, 2023 4:00p
P/E Ratio
Dividend Yield
Market Cap
$36.15 billion
Rev. per Employee

Get news alerts on Manulife Financial Corp. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.