Welcome to our dedicated page for Stratus Properties news (Ticker: STRS), a resource for investors and traders seeking the latest updates and insights on Stratus Properties stock.
Stratus Properties Inc. (STRS) is a renowned real estate development company dedicated to creating high-quality residential and commercial communities in Texas. Known for their meticulous planning, attention to detail, and environmental respect, Stratus Properties ensures that each of their projects enhances the living, working, and recreational experiences of its inhabitants.
Operating primarily in the Austin, Texas area, and other select markets across the state, Stratus Properties Inc. is diversified into two main segments: Real Estate Operations and Leasing Operations. Through these segments, the company is involved in the acquisition, entitlement, development, management, operation, and sale of both commercial and residential real estate properties.
In the Real Estate Operations segment, Stratus focuses on the development of master-planned communities, mixed-use developments, and commercial projects. They have a proven track record of transforming large tracts of land into vibrant residential neighborhoods and retail spaces that cater to the needs of the community.
The Leasing Operations segment is dedicated to managing and operating income-producing properties. This includes leasing space in office buildings, retail centers, and other commercial properties. Stratus Properties has successfully attracted and maintained a diverse range of tenants, ensuring steady revenue streams and high occupancy rates.
Stratus Properties Inc. has garnered attention for its recent achievements and current projects, which include several high-profile developments in prime locations. The company's strategic partnerships and innovative approach to real estate development have positioned it as a leader in the industry.
Financially, Stratus Properties Inc. maintains a strong balance sheet and continues to explore new opportunities to expand its portfolio. With a commitment to quality and sustainability, Stratus is well-equipped to meet the evolving needs of the market and deliver long-term value to its shareholders.
Stratus Properties Inc. (NASDAQ: STRS) has successfully completed the sale of Block 21 to Ryman Hospitality Properties for approximately
Stratus Properties Inc. (NASDAQ: STRS) reported its first-quarter 2022 results, highlighting a net income of $2.3 million, down from $8.9 million a year earlier. The company is progressing on the sale of Block 21 for $260 million, with expected net proceeds of $90 million post-transaction costs. EBITDA fell to $2.4 million from $23.5 million, reflecting no sales in the Real Estate Operations segment. Stratus continues various development projects including The Saint June and Magnolia Place, while consolidating debt stood at $121.4 million.
Stratus Properties Inc. (NASDAQ: STRS) will release its first-quarter 2022 financial results before the market opens on May 16, 2022. A conference call is scheduled for 11:00 a.m. Eastern Time on the same day, with details for participating provided. The complete earnings release and call replay will be available on the company's website. Stratus is involved in real estate activities in Austin, Texas, including acquisition, development, leasing, and operational management of various real estate properties.
Stratus Properties reported strong financial results for the year ended December 31, 2021, with net income of $57.4 million ($6.90 per share) compared to a loss of $22.8 million the previous year.
The company recognized pre-tax gains from significant property sales, including The Santal and The Saint Mary, totaling $106 million. Total stockholders' equity rose 60% to $158.1 million. Stratus continues to advance its development projects, including The Saint George and The Annie B, while also preparing for the anticipated sale of Block 21 for $260 million.
Stratus Properties Inc. (NASDAQ: STRS) has extended the anticipated closing date for the sale of Block 21 to Ryman Hospitality Properties, now expected before
Stratus Properties Inc. (NASDAQ: STRS) will release its financial and operational results for the year ending December 31, 2021, before market open on March 31, 2022. A conference call will take place at 11:00 a.m. Eastern Time the same day. Investors can join the call via domestic number 1-877-418-4843 or international number 1-412-902-6766. For replay, dial 1-877-344-7529 domestically or 1-412-317-0088 internationally, using access code 2465645 until April 14, 2022. More details can be found on their website: stratusproperties.com.
Stratus Properties Inc. (NASDAQ: STRS) has announced an extension for the closing date of the Block 21 sale to Ryman Hospitality Properties, Inc. The deal's finalization is now anticipated in the first quarter of 2022, subject to various closing conditions, including consent from loan servicers and the hotel operator. Block 21 is a mixed-use development in downtown Austin, Texas, featuring the W Austin Hotel and other commercial spaces. Factors affecting the transaction's timeline include the ongoing impact of COVID-19 and potential delays in obtaining necessary approvals.
Stratus Properties Inc. (NASDAQ: STRS) has completed the sale of The Santal for $152 million, yielding approximately $74 million in pre-tax cash proceeds. After-tax proceeds are anticipated to be around $51 million. The transaction is expected to result in a pre-tax gain of approximately $80 million in Q4 2021 and reflects a significant 32% internal rate of return on the investment. The sale price represents a 103% premium over the estimated after-tax net asset value of $25 million from December 2020.
Stratus Properties Inc. (NASDAQ: STRS) reported its third-quarter 2021 results, showing a net loss of $3.8 million, significantly improved from a loss of $15.1 million in Q3 2020. Notable transactions include agreements to sell Block 21 for $260 million and The Santal for $152 million, which are expected to generate pre-tax proceeds of approximately $115 million and $70 million, respectively. EBITDA rose to $2.0 million from a loss of $0.6 million a year earlier. While hospitality revenue improved, Stratus is facing challenges in real estate operations due to a decrease in lot sales.
Stratus Properties Inc. (NASDAQ: STRS) has agreed to sell Block 21, a mixed-use complex in Austin, Texas, to Ryman Hospitality Properties, Inc. for $260 million. This sale follows a previous agreement in December 2019 for $275 million, which was terminated in May 2020 due to the COVID-19 pandemic, resulting in Ryman forfeiting $15 million in earnest money. The transaction is aimed to close by year-end, pending certain conditions. This move is expected to provide Stratus with financial flexibility to reinvest, deleverage, or return cash to shareholders.
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