Forestar Group Inc.
Forestar Real Estate Group Inc. (Forestar) is a real estate property developer. The company is engaged in entitlement and development of residential and mixed use communities. Forestar owns about 281,000 acres of real estate, 622,000 net acres of oil and gas mineral interests, about 231,000 forested acres, and over 224,000 acres currently leased for recreational purposes. It earns revenues through royalties and other lease revenues from its oil and gas interests and through sale of wood fiber from its undeveloped land and recreational leases. The company has its business spread across 9 states encompassing 12 market segments in the U.S. Forestar is headquartered at Austin, U.S.
In June 2009, the company sold approximately 75,000 acres of timberland in Georgia and Alabama for $120 million in a cash transaction to Hancock Timber Resource Group. In August, Forestar completed sale of about 20,000 acres of HBU timberland in Georgia for approximately $39.5 million to St. Regis Paper Company, LLC, assignee of Holland M. Ware.The company reported revenues of (U.S. Dollars) USD 159.72 million during the fiscal year ended 2008, a decrease of 10.00% over 2007. The operating profit of the company was USD 35.81 million during the fiscal year 2008, a decrease of 27.00% over 2007. The net profit of the company was USD 11.97 million during the fiscal year 2008, a decrease of 52.00% over 2007.