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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. It has three business segments: Real estate, Oil and gas, and other natural resources.
Sector: Financial
Country: United States