Pope Resources Q3 Profit Down

(RTTNews) - Pope Resources (POPE) reported that its net income attributable to unitholders for the quarter ended September 30, 2017 was $1.7 million, or $0.38 per unit, down from $2.0 million, or $0.45 per unit in the third quarter of 2016.

Quarterly revenue grew to $18.8 million from $13.2 million last year.

The company expect total 2017 harvest volume to be between 111 and 115 MMBF, including timber deed sales. In Real Estate segment, we expect to close in the fourth quarter on the sale of up to 78 additional single-family lots from Harbor Hill project, up to four additional residential lots from other properties, and a potential conservation easement sale.

Pope Resources also announced a quarterly distribution of $0.70 per unit, effective for unitholders of record on November 22, 2017 and payable on December 8, 2017.