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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.
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  • 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.
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  • 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.
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Company Description
Forestar Group Inc is a real estate and oil and gas company. The Company owns 113,000 acres of real estate including about 102,000 acres with timber. It also has 960,000 net acres of oil and gas mineral interests in the continental U.S.
Sector: Financial
Country: United States