Forestar Group, Inc. (FOR, Financial) detracted from performance this quarter. Forestar is a leading real estate and resource development company, with 136,000 acres of owned land intended for residential and commercial development, and significant holdings of mineral and water rights. Underperformance was driven by a dilutive equity offering to fund the company's growth strategy.
From Ron Baron (Trades, Portfolio)'s Baron Funds' fourth quarter 2013 commentary.
