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Forestar Group Inc
Forestar Group Inc. is a publicly traded company listed on the New York Stock Exchange under the ticker symbol FOR. The company operates in the real estate industry, specifically in the residential and mixed-use property sector. Here are some key points about the company:
History: Forestar Group was founded in 1994 and has since grown to become a leading developer and owner of residential and mixed-use properties across the United States.
Operations: The company's core business involves identifying and acquiring land for development, entitling and developing land, and selling land to homebuilders, commercial developers, and others. They operate in several states, including Texas, Arizona, Georgia, and North Carolina.
Financials: As of March 2023, Forestar Group't total assets were $827 million, including $544 million in real estate properties and $144 million in cash and cash equivalents. Their revenue for 2022 was $238 million, and their net income was $41 million.
Growth: Forestar Group has a strong track record of growth, with a compound annual growth rate of 24% in revenue and 33% in earnings per share over the last five years. The company has a strong balance sheet and liquidity, which provides them with the flexibility to invest in growth opportunities.
Dividend: Forestar Group pays an annual dividend of $0.24 per share, which represents a yield of 0.6% as of March 2023. The company has consistently paid dividends to shareholders since its inception.
Analyst Coverage: Several analysts cover Forestar Group, including those from Wall Street firms such as J.P. Morgan, Barclays, and BTIG. Their consensus rating is "buy," with an average price target of $23.60 per share.
Risk Factors: The company's business is subject to risks, such as the cyclical nature of the real estate industry, changes in interest rates and housing market demand, competition, environmental and entitlement risks, and government regulations.
Overall, Forestar Group is a well established real estate development and management company with a proven track record, strong financials, and growth potential. However, as with any investment, investors should conduct thorough research, analyze the company's performance and industry trends before making investment decisions.
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