Frequently Asked Questions
|1.||When was Forest City Enterprises founded?|
| ||Forest City was founded in 1920 in Cleveland, Ohio.|
|2.||When did Forest City make its initial public offering?|
| ||Forest City stock began trading publicly in 1960. |
|3.||Is Forest City a real estate investment trust (REIT)?|
No. Forest City currently has C-Corp status and is considered a real estate operating company (REOC).
On January, 13, 2015, Forest City announced that its board of directors had approved a plan for the company to pursue conversion to real estate investment trust (REIT) status. The company expects to elect REIT status for its taxable year beginning January 1, 2016, subject to business conditions, the completion of related preparatory work and the obtaining of necessary consents and approvals.
|4.||What is FFO?|
FFO (Funds From Operations) is a non-GAAP measure of performance commonly used by publicly traded real estate companies, including the majority of the company¹s peers, and is defined by the National Association of Real Estate Investment Trusts (NAREIT). FFO provides supplemental information about the company's operations. Although not presented in accordance with GAAP, the company believes it is important
to understand its business and operating results, along with net earnings, the most comparable GAAP measure, and to effectively evaluate the company¹s results relative to peers.
For more information on FFO and for a reconciliation of FFO to net earnings, the most comparable GAAP measure, please see the Supplemental Packages available in the Financial Reports section of this Web site.
|5.||Where are your shares traded? And what is the ticker symbol?|
| ||The company’s stock is traded on the New York Stock Exchange. The ticker symbols are FCEA and FCEB.|
|6.||What is the difference between the company's Class A common and Class B common shares of stock?|
| ||Generally, for all matters voted upon together as a single class, the holders of Class B common stock are entitled to 10 votes for every share of Class B stock owned and the holders of Class A common stock have one vote for each share owned. In addition, the holders of Class A common stock are generally entitled to elect 25% of the company’s board of directors. Holders of Class B common stock are generally entitled to elect the remaining members of the company’s board of directors.|
|7.||How many employees does Forest City have?|
| ||As of Dec. 31, 2014, the company had 2,626 full-time and 239 part-time employees.|
|8.||Can I buy or sell stock directly through Forest City?|
| ||No. You will need to contact a licensed stockbroker to purchase shares in the company. |
|9.||Does Forest City pay a dividend?|
During the year ended January 31, 2009, Forest City announced that the company's board of directors voted to suspend quarterly cash dividends on its Class A and Class B common stock. The suspension began following the payment of dividends on December 15, 2008.
As previously disclosed, the company expects to elect REIT status for its taxable year beginning January 1, 2016. Under the Internal Revenue Code, a REIT must distribute at least 90 percent of its taxable income in the form of shareholder dividends.
|10.||Who is Forest City’s transfer agent and registrar?|
| ||All transaction requests should be directed to Wells Fargo Shareholder Services, which is responsible for all aspects relating to the servicing of your common stock such as: stock transfers, dividend payments, reinvestment plan transactions, address changes, account record keeping, etc. |
Wells Fargo Shareholder Services
1110 Centre Pointe Curve
Mendota Heights, MN 55120
|11.||How can I obtain a copy of your annual report?|
| ||If you would like a printed copy of the Annual Report, please contact Jeff Linton. You can also access an electronic version on this website.
|12.||How can I obtain SEC documents such as a 10-K or a 10-Q?|
| ||SEC documents are accessible on the Investor Relations section of our website under SEC Filings.|
|13.||What is your corporate policy of stock buybacks?|
| ||On Dec. 20, 2012, Forest City announced the board of directors' authorization to repurchase up to $100 million common shares, from time to time, in the open market. To date, no shares have been purchased under this plan.|