Headquartered in Arlington, TX Fiscal year ends September NYSE: FOR forestar.com
Forestar Group Inc. is a residential lot development company. It acquires land, develops it into finished residential lots, and sells those lots to local, regional and national homebuilders. It operates in 65 markets across 24 states and delivered 13,545 lots in fiscal 2026.
The company is a majority-owned subsidiary of D.R. Horton, the largest U.S. homebuilder by volume since 2002. D.R. Horton is also its primary customer. At September 30, 2026, D.R. Horton had 19,800 owned lots under contract and a right of first offer on another 18,600 lots.
Forestar generates revenue from three sources:
- Development projects, where it develops lots itself.
- Lot banking projects.
- Tract sales and other land sales.
It also sells lots to homebuilders other than D.R. Horton and to lot bankers. At fiscal year-end 2026, it owned or controlled 84,400 lots and held real estate of about $2.5 billion. Updated
Tract sales revenue collapsed to $38.7 million from $103.4 million a year ago, and that single line explains both the EPS and revenue miss. Management now guides fiscal 2027 revenue to $1.4 billion to $1.5 billion, below fiscal 2026, as affordability and mortgage rates squeeze lot pricing.
In July, the market is rewarding quality at almost any price, which makes the bargain bin worth a serious look. Three NYSE-listed names trade well under $1,000 a share, carry single-digit or…
Small caps are finally getting their moment. The iShares Russell 2000 ETF (NYSEARCA:IWM) is up 12.11% year to date and 31.51% over the past year, a sharp rotation away from the mega-cap…
Forestar Group Inc. is a residential lot development company. It acquires land, develops it into finished residential lots, and sells those lots to local, regional and national homebuilders.
The Wall Street consensus 12-month price target for FOR is $34.00.
