Upcoming AWS Coverage on Howard Hughes Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 18, 2017 / Active Wall St. blog coverage looks at the headline from Forestar Group Inc. (NYSE: FOR) as the Company announced on April 13, 2017 that affiliates of private investment firm Starwood Capital Group will acquire all the outstanding common stock of Forestar in an all-cash transaction. The deal is valued at approximately $605 million. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Forestar Group's competitors within the Real Estate Development space, The Howard Hughes Corporation (NYSE: HHC), announced on April 10, 2017, that it will release Q1 2017 earnings on Wednesday, May 03, 2017 after the market closes and will hold its Q1 conference call on Thursday, May 04, 2017 at 10:00 am ET. The Company's earnings release will be posted to its website prior to the conference call in the Investor section. AWS will be initiating a research report on Howard Hughes in the coming days.

Today, AWS is promoting its blog coverage on FOR; touching on HHC. Get all of our free blog coverage and more by clicking on the link below: http://www.activewallst.com/register/.

Commenting on the deal, James A. Rubright, Chairman of Forestar Group's Board said:

"Over the past 18 months Forestar has significantly reduced costs and outstanding debt, exited non-core assets and focused on its core community development business. While executing these key initiatives, the Board and management have been evaluating longer term strategic alternatives. After conducting a thorough review assisted by highly experienced financial and legal advisors, the Board believes that engaging in the transaction with Starwood is the best option to maximize stockholder value."

Transaction details

Starwood would be paying $14.25 per share in cash for each share of Forestar. The offer price represents a premium of 8.2% of the 90-day volume weighted average price of the Forestar's stock. Forestar's Board of Directors has already approved the deal. The deal is expected to close in Q3 2017 subject to shareholders' approval and fulfillment of certain closing conditions. However, the transaction is not subject to any financing conditions.

For this deal, Forestar's financial advisor was JMP Securities LLC and the legal advisor was Skadden, Arps, Slate, and Meagher & Flom LLP while Starwood's legal advisors were Kirkland & Ellis LLP.

As a result of this deal, Forestar has announced that it will not be sharing its Q1 2017 earnings results or hold a conference call for the same.

About both Companies

AUSTIN, Texas based Forestar is a residential and mixed-use real estate development Company. Forestar directly or through its affiliates owns stake in 55 residential and mixed-use projects which include approximately 7,000 acres of real estate located in 11 states and 15 markets. It also owns natural resources such as timber tracts, oil and gas properties, and groundwater resources.

In recent times, Forestar has been taking steps for revamping its organization and capital structure and reduce costs so that it could reduce its debt and operating costs. To this end, the Company has been selling off non-core assets so that it can focus on its real estate business.

Greenwich, Connecticut based Starwood Capital Group is a private investment firm that primarily focuses on global real estate. Starwood Capital has 25 years of experience covering virtually every real estate asset class including offices, apartments/ condos, retail, hotels, residential, and industrial properties etc.

The firm was launched in 1991 and currently has approximately $52 billion of assets under management. It has over 2,000 employees across nine offices globally plus approximately 15,000 additional employees involved with a dozen portfolio operating Companies.

On March 30, 2017, Starwood and its affiliates sold off their entire holdings in TRI Pointe Group. The reason given for the sale was that Starwood was disappointed in the performance of the Company in recent years, including lack of strategic direction and disagreement over ways of unlocking shareholder value.

On March 29, 2017, Starwood joined hands with Chinese property developer and operator Shimao Property Holdings Limited to form a new hotel joint venture based in China to take advantage of the market opportunities in the region.

Stock Performance

At the closing bell, on Monday, April 17, 2017, Forestar Group's stock rose slightly by 0.35%, ending the trading session at $14.20. A total volume of 3.00 million shares were traded at the end of the day, which was higher than the 3-month average volume of 325.66 thousand shares. In the last month and previous six months, shares of the Company have surged 9.23% and 26.79%, respectively. Moreover, the stock gained 6.77% since the start of the year. Shares of the company have a PE ratio of 9.24.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street