Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  D.R. Horton    DHI

D.R. HORTON

(DHI)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

D R Horton : Forestar says D.R. Horton's offer could be superior to Starwood bid

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/08/2017 | 01:29pm EDT
A flag outside a house built by the D.R. Horton company is seen in Arvada

(Reuters) - Forestar Group Inc (>> Forestar Group Inc.) said on Thursday that U.S. homebuilder D.R. Horton Inc's (>> D.R. Horton, Inc.) offer to buy a majority stake in the real estate developer could be superior to its deal with Starwood Capital Group.

(Reuters) - Forestar Group Inc (>> Forestar Group Inc.) said on Thursday that U.S. homebuilder D.R. Horton Inc's (>> D.R. Horton, Inc.) offer to buy a majority stake in the real estate developer could be superior to its deal with Starwood Capital Group.

Forestar also said it was still subject to the agreement with Starwood, which in April agreed to buy the Texas-based company for $14.25 per share, or about $605 million.

D.R. Horton, the No. 1 U.S. homebuilder, on Monday offered to buy 75 percent of Forestar for $16.25 per share, or about $520 million in cash.

Forestar's shares rose as much as 2.2 percent to $16.20, just shy of the offer price.

D.R. Horton's offer comes at a time when U.S. homebuilders are seeking ways to boost their land holding as rising land acquisition costs and a tight labor market hamper efforts to tap the recovery in the housing market.

Smaller rival Lennar Corp (>> Lennar Corporation) in February bought homebuilder WCI Communities Inc as it seeks to boost its land bank.

Edward Jones analyst Robin Diedrich said Starwood could make a bigger offer, given its size and experience in acquisitions.

Under the deal proposed by D.R. Horton, Forestar will remain public to ensure continued access to capital to help fund its increasing scale.

This means shareholders can retain an interest, potentially making the offer attractive to the board and the management team, Diedrich said.

Barry Sternlicht-led Starwood, an investment firm with a focus on real estate, manages assets of more than $51 billion.

Starwood in March raised its bid to buy Milestone Apartments Real Estate Investment Trust (>> Milestone Apartments Real Estate Invt Tr) after proxy advisory firm ISS recommended Milestone unitholders to vote against the deal.

Forestar, which mainly develops lots and sells them to homebuilders, owns interests in 50 residential and mixed-use projects comprising 4,600 acres of real estate.

Under certain circumstances, Forestar has to pay Starwood $20 million if the deal is terminated.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Sai Sachin Ravikumar and Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
D.R. HORTON 2.32% 44.63 Delayed Quote.28.77%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on D.R. HORTON
05/10D.R. HORTON : Ex-dividend day for
FA
05/07D.R. HORTON, INC. : to Present at the 12th Annual J.P. Morgan Homebuilding and B..
BU
04/30D R HORTON : HORTON D R INC /DE/ MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCI..
AQ
04/25HORTON D R INC /DE/ : Results of Operations and Financial Condition, Financial S..
AQ
04/25D R HORTON : Homebuilder Horton avoids 2019 margin forecast, raises cost worries
RE
04/25D.R. HORTON : Fiscal 2Q Earnings Snapshot
AQ
04/25D.R. HORTON, INC. : America's Builder, Reports Fiscal 2019 Second Quarter Earnin..
BU
03/26Home-Builder Stocks Stage a Comeback -- 2nd Update
DJ
03/26Home-Builder Stocks Stage a Comeback --Update
DJ
03/14D.R. HORTON, INC. : America's Builder, to Release 2019 Second Quarter Earnings o..
BU
More news
Financials ($)
Sales 2019 16 988 M
EBIT 2019 1 909 M
Net income 2019 1 481 M
Debt 2019 1 325 M
Yield 2019 1,34%
P/E ratio 2019 11,29
P/E ratio 2020 10,15
EV / Sales 2019 1,06x
EV / Sales 2020 0,97x
Capitalization 16 655 M
Chart D.R. HORTON
Duration : Period :
D.R. Horton Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends D.R. HORTON
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 47,4 $
Spread / Average Target 6,2%
EPS Revisions
Managers
NameTitle
David V. Auld President & Chief Executive Officer
Donald Ray Horton Chairman
Michael J. Murray Chief Operating Officer & Executive Vice President
Bill W. Wheat CFO, Principal Accounting Officer & Executive VP
Michael R. Buchanan Independent Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
D.R. HORTON28.77%16 655
DAIWA HOUSE INDUSTRY CO LTD-2.28%20 415
SEKISUI HOUSE LTD10.98%11 106
PULTEGROUP23.59%8 902
PERSIMMON1.99%7 970
BARRATT DEVELOPMENTS22.30%7 297