Welcome to our dedicated page for Stratus Prop news (Ticker: STRS), a resource for investors and traders seeking the latest updates and insights on Stratus Prop stock.
Stratus Properties Inc (STRS) delivers innovative real estate solutions through strategic development and leasing operations across Texas markets. This news hub provides investors and stakeholders with essential updates about the company's residential and commercial projects.
Access authoritative information on STRS's latest property acquisitions, partnership announcements, and operational milestones. Our curated collection features press releases covering entitlement progress, community development initiatives, and financial disclosures – all critical for understanding the company's position in sustainable real estate development.
Key updates include earnings reports detailing leasing revenue trends, project approvals in target markets like Austin, and strategic expansions reflecting the company's dual operational focus. Bookmark this page for direct access to primary source materials that inform decisions about STRS's market activities.
Stratus Properties (NASDAQ: STRS) reported strong financial results for 2024, with net income of $2.0 million ($0.24 per diluted share), compared to a net loss of $14.8 million in 2023. Revenues surged to $54.2 million from $17.3 million, primarily driven by property sales including five Amarra Villas homes ($18.9 million), Magnolia Place land ($14.5 million), and increased leasing revenue from The Saint June.
The company maintained a solid financial position with $20.2 million in cash and $39.0 million available under its revolving credit facility. Through March 2025, STRS has repurchased 83,380 shares at an average price of $23.98 per share, with $3.0 million remaining in the buyback program.
Key developments include the successful lease-up of The Saint June, a 182-unit luxury project, and ongoing construction of Holden Hills Phase 1 and The Saint George, expected to complete in H1 2025. The company also refinanced several project loans, securing lower interest rates and generating additional cash proceeds of $7.7 million.
Stratus Properties (NASDAQ: STRS) has successfully completed a $24.0 million non-recourse loan refinancing for its retail property at Jones Crossing, a H-E-B anchored mixed-use project in College Station, Texas. The new loan, maturing April 1, 2028, features a lower interest rate than the previous loan and generated approximately $1.2 million in net cash proceeds.
This refinancing follows similar recent transactions at Kingwood Place and Lantana Place, aligning with Stratus' strategy to capitalize on lower interest rates while extending debt maturities. The company aims to retain these cash-flowing properties until real estate market conditions improve.
Stratus primarily focuses on real estate development and management in Austin and select Texas markets, with a portfolio including approximately 1,600 acres of commercial and residential projects. Their revenue streams come from property sales, leasing of retail, mixed-use and multi-family properties, and development and asset management fees.
Stratus Properties (NASDAQ: STRS) has successfully completed a $29.8 million refinancing for its Lantana Place retail property in Austin, Texas. The new loan, maturing February 1, 2029, replaces the existing construction loan and features a lower interest rate with interest-only payments for the first year.
The refinancing of the 99,377-square-foot retail property has resulted in approximately $3.0 million in distributions to Stratus. The company maintains full ownership of Lantana Place, which is part of a larger mixed-use development project located south of Barton Creek.
Stratus' portfolio includes approximately 1,600 acres of commercial and residential projects under development or undeveloped land. The company generates revenue through property sales, leasing of retail, mixed-use and multi-family properties, and development and asset management fees.
Stratus Properties (NASDAQ: STRS) has secured a $33.0 million non-recourse loan to refinance the construction loan for Kingwood Place, an H-E-B-anchored retail project in Kingwood, Texas. The company owns approximately 60% of the property through a partnership. The new loan, maturing December 1, 2027, features a tighter interest rate spread than the previous loan and is expected to generate payments and distributions of about $2.0 million to Stratus. The refinancing follows successful construction and substantial lease-up of the retail space, including the H-E-B grocery store.
Stratus Properties (NASDAQ: STRS) reported its Q3 and nine-month 2024 results, showing significant improvement from the previous year. The company reduced its Q3 net loss to $0.4 million ($0.05 per share) from $2.8 million in Q3 2023. Revenues increased to $8.9 million in Q3 2024 from $3.7 million in Q3 2023, driven by a $4.0 million Amarra Villas home sale and increased rental revenue from The Saint June. The company completed property sales totaling $38.6 million in the first nine months of 2024, including land sales at Magnolia Place and four Amarra Villas homes. The Saint June achieved 97% occupancy, and the company maintained strong liquidity with $19.6 million in cash and $39.6 million available under its revolving credit facility.
Stratus Properties Inc. (NASDAQ: STRS) has completed the sale of its Magnolia Place – Retail property for $8.9 million, generating pre-tax net cash proceeds of approximately $8.6 million. This sale is part of Stratus' mixed-use development project in Magnolia, Texas. The company retains potential development of about 11 acres planned for 275 multi-family units and approximately $12 million of potential future reimbursement from the municipal utility district.
Over the past three years, Stratus has realized cumulative sales of $30.1 million at Magnolia Place, including the sale of pad sites, retail development land, single-family land, and land planned for up to 600 multi-family units. The company acquired the 125-acre site in 2014 for a net price of about $3.3 million, demonstrating significant value creation through development and strategic sales.
Stratus Properties Inc. (NASDAQ: STRS) reported its Q2 and H1 2024 results. Key highlights include:
- Q2 2024 net loss of $1.7 million ($0.21 per share) vs. $5.3 million loss in Q2 2023
- H1 2024 net income of $2.8 million ($0.35 per share) vs. $11.1 million loss in H1 2023
- Q2 2024 revenues increased to $8.5 million from $3.5 million in Q2 2023
- H1 2024 revenues rose to $35.0 million from $9.3 million in H1 2023
- The Saint June multi-family project reached 98% occupancy
- Entered contract to sell Magnolia Place retail property for $8.9 million
- $13.5 million cash on hand and $39.6 million available under credit facility as of June 30, 2024
Stratus Properties (NASDAQ: STRS) reported a significant turnaround in its first-quarter 2024 financial results. The company achieved a net income of $4.6 million ($0.56 per diluted share), compared to a net loss of $5.8 million ($0.73 per diluted share) in Q1 2023. Revenues surged to $26.5 million from $5.8 million, driven by the $14.5 million sale of 47 acres at Magnolia Place and higher sales prices of Amarra Villas homes.
Stratus also reported substantial progress in its construction projects and property sales. It signed leases for 90% of units at The Saint June, completed in Q4 2023, and entered a sale contract for West Killeen Market at $12.8 million. The company holds $20.7 million in cash and has $39.6 million available in its revolving credit facility. EBITDA improved to $5.2 million from a loss of $4.2 million in Q1 2023.
