Allianz Asset Management GmbH Sells 4,716 Shares of Forestar Group Inc $FOR

Allianz Asset Management GmbH cut its stake in shares of Forestar Group Inc (NYSE:FOR) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,392 shares of the oil and gas exploration company’s stock after selling 4,716 shares during the period. Allianz Asset Management GmbH owned about 0.15% of Forestar Group worth $1,488,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MQS Management LLC bought a new position in Forestar Group during the 1st quarter valued at $379,000. Royal Bank of Canada lifted its stake in Forestar Group by 27.6% during the 1st quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company’s stock valued at $10,308,000 after acquiring an additional 105,361 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Forestar Group by 19.0% during the 1st quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company’s stock valued at $1,894,000 after acquiring an additional 14,300 shares in the last quarter. American Century Companies Inc. lifted its stake in Forestar Group by 8.2% during the 1st quarter. American Century Companies Inc. now owns 632,145 shares of the oil and gas exploration company’s stock valued at $13,364,000 after acquiring an additional 47,923 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in Forestar Group by 24.4% during the 1st quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company’s stock valued at $6,238,000 after acquiring an additional 57,943 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Trading Up 0.8%

Shares of Forestar Group stock opened at $26.23 on Friday. Forestar Group Inc has a 52-week low of $18.00 and a 52-week high of $34.82. The stock’s 50-day simple moving average is $26.83 and its 200 day simple moving average is $23.19. The stock has a market capitalization of $1.33 billion, a P/E ratio of 8.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FOR. Zacks Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research note on Saturday. JMP Securities set a $30.00 target price on Forestar Group and gave the stock a “market outperform” rating in a research note on Tuesday, July 15th. Citigroup initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating on the stock. Finally, Citizens Jmp initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Forestar Group Company 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.