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Forest City Enterprises Inc (NYSE:FCE.A)
Shares Outstanding
203 Mil (As of Mar. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Forest City Enterprises Inc's shares outstanding for the quarter that ended in Mar. 2014 was 203 Mil.

Forest City Enterprises Inc's quarterly shares outstanding declined from Oct. 2013 (235 Mil) to Mar. 2014 (203 Mil). It means Forest City Enterprises Inc bought back shares from Oct. 2013 to Mar. 2014 .

Forest City Enterprises Inc's annual shares outstanding increased from Jan. 2012 (168 Mil) to Jan. 2013 (173 Mil). It means Forest City Enterprises Inc issued new shares from Jan. 2012 to Jan. 2013 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Forest City Enterprises Inc Annual Data

Jan04Jan05Jan06Jan07Jan08Jan09Jan10Jan11Jan12Jan13
Shares Outstanding 102101103104103103140173168173

Forest City Enterprises Inc Quarterly Data

Jan12Apr12Jul12Oct12Jan13Mar13Apr13Jul13Oct13Mar14
Shares Outstanding 169222169171181184223195235203
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