Forestar Group Inc. (NYSE:FOR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Forestar Group Inc. (NYSE:FOR) by 69.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,262 shares of the oil and gas exploration company’s stock after buying an additional 20,542 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Forestar Group worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Forestar Group during the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new stake in Forestar Group in the fourth quarter valued at approximately $95,000. Heck Capital Advisors LLC acquired a new position in Forestar Group in the 4th quarter worth approximately $112,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Forestar Group during the 3rd quarter worth approximately $172,000. Finally, SG Americas Securities LLC lifted its stake in Forestar Group by 43.3% during the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock valued at $148,000 after acquiring an additional 1,731 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Analyst Ratings Changes

FOR has been the topic of a number of research reports. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Citigroup cut their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $21.10 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of 5.91 and a beta of 1.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company’s fifty day moving average price is $22.77 and its 200 day moving average price is $27.30. Forestar Group Inc. has a 1 year low of $20.70 and a 1 year high of $40.86.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group’s quarterly revenue was down 18.1% on a year-over-year basis. On average, research analysts predict that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of Forestar Group stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $23.14 per share, with a total value of $99,502.00. Following the purchase, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Forestar Group Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.