** Shares in residential lot development co Forestar Group Inc FOR.N, which is majority owned by homebuilder DR Horton DHI.N, down 5.7% at $25.83 on Tuesday after fiscal Q1 report with EPS missing Street estimates, while revenue beat
** FOR, which buys land to sell single-family lots to homebuilders, reported Q1 EPS of $0.30 vs Street expectation for $0.32 on rev of $273 mln, which was above consensus expectation for $260.97 mln
** In Q1 co said lots sold decreased 17% to 1,944 lots from 2,333 in Q1 fiscal 2025, including 317 lots sold to customers other than D.R. Horton
** FOR reaffirmed previous fiscal 2026 guidance to deliver between 14,000 and 15,000 lots, generating $1.6 billion to $1.7 billion of revenue
** Median PT for FOR is $34.50 as per LSEG, which shows just four analyst ratings: 2 'strong buy,' 1 'buy' and 1 'hold'
** YTD shares in FOR still up 4.9% after ~5% drop in 2025
(Reporting by Sinead Carew)
((sinead.carew@thomsonreuters.com))
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