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FOR vs. ETF Alternatives
Wednesday, Dec 112013, 3:51 PM
Wednesday, Dec 112013, 3:51 PM| 1 Comment
- 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.
Monday, Mar 42013, 2:24 PMForestar 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. |Monday, Mar 42013, 2:24 PM| Comment!
Monday, Jun 42012, 9:06 AM