Forestar Group expands board, appoints CEO as director

Forestar Group Inc . (NYSE:FOR), a real estate company currently trading at attractive valuation multiples with a P/E ratio of 5.38, announced on Monday the expansion of its Board of Directors and the appointment of its President and Chief Executive Officer, Anthony W. Oxley, as a new board member. According to InvestingPro, the company maintains a GOOD financial health score despite its stock declining nearly 40% over the past six months. The addition of Mr. Oxley increases the board’s size to seven directors, maintaining a majority of five independent directors.

Mr. Oxley, 61, has been leading Forestar as President and CEO since January 2024. His prior experience includes a 25-year tenure with national homebuilder D.R. Horton, where he served as Senior Vice President – Business Development, with a focus on mergers and acquisitions, new market opportunities, land banking, and division operations.

The company clarified that Mr. Oxley will not receive additional compensation for his role as a director. Furthermore, there are no reported arrangements or understandings between Mr. Oxley and any other individuals regarding his selection as a director, nor is he involved in any transactions that would require disclosure under SEC regulations.

This information is based on a press release statement filed with the Securities and Exchange Commission on April 15, 2025. The appointment of Mr. Oxley is part of Forestar’s ongoing governance and leadership development within the company’s board structure. Investors should note that Forestar is scheduled to report its earnings in two days, with InvestingPro offering comprehensive analysis and additional insights through its detailed Pro Research Report.

In other recent news, Forestar Group Inc. reported a significant miss in its first-quarter 2024 earnings, with earnings per share (EPS) at $0.32, compared to the forecasted $0.70. The company’s revenue was $250.4 million, falling short of the expected $325.4 million. Despite these setbacks, Forestar expanded its community count by 25% and increased its lot position by 23%, maintaining its guidance to deliver up to 16,500 lots in fiscal 2025. Citi analysts adjusted their outlook on Forestar, reducing the price target from $39 to $32 while maintaining a Buy rating, citing a challenging margin landscape due to high-interest rates. Forestar’s management attributed the first-quarter performance issues to timing, with some volumes having been advanced into the fourth quarter of 2024, but they remain confident in meeting full-year volume and revenue targets. Additionally, Forestar announced changes to its corporate governance, including amendments to its charter and the election of six directors. The company also ratified Ernst & Young LLP as its independent registered public accounting firm for the fiscal year ending September 30, 2025. These developments reflect Forestar’s ongoing efforts to adapt and expand within the competitive lot development industry.

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