Forestar Group Inc. (FOR) - NYSE
  • Dec. 11, 2013, 3:51 PM
    • The 20% dip in Forestar (FOR +1.7%) shares since mid-October looks like a buying opportunity, Barron's writes, as FOR sells lots and realizes income from its oil and gas properties over the next year.
    • FOR, which owns 132K acres of real estate in 10 states including in attractive markets in Texas, is on track to sell ~1,900 residential lots this year, more than double last year's 926 lots, and production in its burgeoning oil and gas unit is up 170% Y/Y.
    • Proceeds from a recent equity offering, which raised $145M, while dilutive, will further develop FOR's real estate and energy properties in 2014, which could lead to a higher NAV over time.
    | Dec. 11, 2013, 3:51 PM | 1 Comment
  • Mar. 4, 2013, 2:24 PM

    Forestar Group's (FOR +11.5%) shares trade at a 40% discount to net asset value, a discount that isn't likely to persist, Barron's said in a weekend article. With the housing market improving, FOR is accelerating its sales of residential lots and investing the proceeds in higher-returning ventures, including its oil and gas business and real estate development properties.

    | Mar. 4, 2013, 2:24 PM
  • Jun. 4, 2012, 9:06 AM

    Forestar (FOR) agrees to acquire Credo Petroleum (CRED) for $14.50/share, or ~$146M. The deal would provide FOR with "meaningful" ownership and operations in several strategic oil and gas formations including the Bakken and Three Forks. CRED +22.8% premarket.

    | Jun. 4, 2012, 9:06 AM
Company Description
Forestar Group, Inc. operates as a real estate and natural resources company. It operates in three segments: Real Estate, Oil & Gas and Other Natural Resources. The Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use... More
Sector: Financial
Industry: Property Management
Country: United States