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ARLINGTON, Texas - Forestar Group Inc. (NYSE:FOR) announced Monday it has added a dual listing on NYSE Texas, the new fully electronic equities exchange headquartered in Dallas, while maintaining its primary listing on the New York Stock Exchange.
The residential lot development company will continue trading under its existing FOR ticker symbol on both exchanges. NYSE Texas is a recently launched exchange based in Forestar’s home state.
"We are pleased to join the NYSE Texas as a Founding Member and promote the state that we have operated in for over 70 years," said Donald J. Tomnitz, Chairman of the Board, in a press release statement.
Forestar, which is majority-owned by homebuilder D.R. Horton, Inc., currently owns and controls more than 26,000 lots across Texas, with 50 active communities in the state. The company operates in 65 markets spanning 24 states nationwide. D.R. Horton, with a market capitalization of $39.5 billion, demonstrates strong financial health according to InvestingPro analysis, maintaining an impressive current ratio of 6.94 and consistent dividend payments for 12 consecutive years. Based on InvestingPro’s Fair Value analysis, DHI currently appears undervalued.
According to the company, it delivered over 14,300 residential lots during the twelve-month period ended March 31, 2025. Want deeper insights? InvestingPro offers comprehensive analysis of D.R. Horton and over 1,400 other US stocks through detailed Pro Research Reports, helping investors make informed decisions with expert analysis and actionable intelligence.
Chris Taylor, Chief Development Officer at NYSE Group, noted in the announcement that Forestar’s role in developing residential communities across Texas makes it "a natural addition to the NYSE Texas community."
In other recent news, D.R. Horton reported normalized diluted earnings per share of $2.28 for the fiscal second quarter of 2025, which fell short of both Citizens JMP’s and consensus estimates of $2.61 and $2.63, respectively. The shortfall was attributed to fewer-than-expected home deliveries and higher sales, general, and administrative expenses. In a related development, Citizens JMP adjusted its price target for D.R. Horton shares to $180 from $210, maintaining a Market Outperform rating. RBC Capital Markets also lowered its price target to $105 from $125, citing a significant shortfall in fiscal second-quarter orders and a downtrend in fiscal year 2025 revenue and delivery forecasts. D.R. Horton has announced the pricing of a $500 million public offering of senior notes due in 2030 with an interest rate of 4.850% per annum, aimed at supporting its operations and growth. Additionally, D.R. Horton has amended its $1.4 billion repurchase facility through its subsidiary, DHI Mortgage Company, Ltd., extending its term to May 2026. The company has also dual-listed its common stock on the newly launched NYSE Texas exchange, reflecting its commitment to the Texas market. These developments highlight D.R. Horton’s recent strategic and financial maneuvers amid challenging market conditions.
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