Forestar Group (FOR)

• Market cap: $1B
• 1 day: -3.42%
• 5 days: 0.15%
• 1 month: -4.22%
• 3 months: -6.31%
• 6 months: -29.09%
• Year to date: -22.95%
• 1 year: -38.73%
• 5 years: 26.21%
• 10 years: 46.22%
• Sector: Real Estate
• Industry: Real Estate Development

About: Forestar Group Inc is a residential lot development company with operations across the United States. The core business segment for the company is real estate which generates all of it's revenues. The firm fundamentally acquires entitled real estate and develops it into finished residential lots for sale to homebuilders with a strategic focus on asset turns and efficiency. Single-family residential communities account for the majority of their real estate projects. The company utilizes a lower-risk business model mainly by investing in short duration, phased development projects.

Employees: 440

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

13% more repeat investments, than reductions

Existing positions increased: 61 | Existing positions reduced: 54

0.54% less ownership

Funds ownership: 35.61% [Q4 2024] → 35.07% (-0.54%) [Q1 2025]

6% less funds holding

Funds holding: 170 [Q4 2024] → 159 (-11) [Q1 2025]

20% less capital invested

Capital invested by funds: $468M [Q4 2024] → $376M (-$91.9M) [Q1 2025]

27% less first-time investments, than exits

New positions opened: 22 | Existing positions closed: 30

61% less call options, than puts

Call options by funds: $298K | Put options by funds: $759K

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $29 47% upside
• Avg. target: $29 47% upside
• High target: $29 47% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

BTIG Ryan Gilbert

47% upside $29

Buy Maintained

21 Apr 2025