Stratus Properties Inc - STRS STOCK NEWS

Oasis Management Company Ltd., a significant shareholder of Stratus Properties Inc. (NASDAQ: STRS) with over 13.5% ownership, has urged shareholders to support its director nominees by voting on the GOLD proxy card. In a letter, Oasis counters misleading information from Stratus while addressing the company's recent share price decline and operational failures. Shareholders are encouraged to review Oasis's communications, including detailed proxy information available on their campaign website.

Stratus Properties Inc. (NASDAQ: STRS) has released an investor presentation ahead of its 2021 Annual Meeting on June 4. The Board recommends shareholders vote using the WHITE proxy card for director nominees Jim Leslie and Neville Rhone, Jr. It emphasizes the Company's successful strategy in developing high-growth properties in Texas and its commitment to potentially converting to a REIT structure, which could enhance liquidity and dividends for shareholders. Stratus urges shareholders to disregard any GOLD proxy cards from activist investor Oasis.

Stratus Properties reported strong first-quarter 2021 results, including a net income of $8.9 million ($1.08 per share), compared to a net loss of $1.1 million in Q1 2020. The net income was significantly boosted by a $22.9 million gain from the sale of The Saint Mary apartment project, which sold for a record $60 million. EBITDA increased to $15.2 million from $4 million a year earlier. Stratus cleared the site for The Saint June project, anticipates further developments like Holden Hills, and has seen improvements in its hotel operations despite pandemic challenges.

Stratus Properties Inc. (NASDAQ: STRS) announced a letter to shareholders regarding its 2021 Annual Meeting on June 4, 2021. CEO Beau Armstrong highlighted Stratus's successful strategy of developing and monetizing properties, leading to strong results. Key achievements include selling The Saint Mary for $60 million, record leasing revenue in 2020, and plans for sustainable development at Holden Hills. Stratus advises shareholders to vote “FOR” its director nominees and an additional recommended director, stressing opposition to activist hedge fund Oasis Management's agenda.

Stratus Properties Inc. (NASDAQ: STRS) announced its final residential project, Holden Hills, located in Barton Creek, Austin. Spanning 495 acres, the development will include 475 residences and prioritize sustainability, wellness, and energy conservation. CEO William H. Armstrong III emphasized the project’s focus on non-toxic materials and renewable energy to minimize carbon impact. With completion of initial engineering, Stratus expects to secure permits by Q2 or Q3 of 2021 and begin sales as early as late 2022. The project will require significant capital, sourced through bank financing and third-party equity.

Stratus Properties Inc. (NASDAQ: STRS) will release its first-quarter 2021 financial and operating results on May 10, 2021, post-market. A conference call is scheduled for May 11, 2021, at 11:00 a.m. ET. Investors can join by calling 1-877-418-4843 for domestic or 1-412-902-6766 for international participants. A replay of the call will be available until May 25, 2021. Stratus operates in real estate acquisition, development, management, and sales, focusing on commercial and residential properties in Texas, particularly Austin.

Stratus Properties Inc. (NASDAQ: STRS) addressed shareholders in a letter ahead of its 2021 Annual Meeting scheduled for June 4, 2021. The letter emphasizes the importance of voting for the Company’s director nominees, James Leslie and Neville Rhone, Jr., against an agenda from Oasis Management Company, which seeks to replace them. Stratus highlights its history of shareholder value creation and urges shareholders to utilize the WHITE proxy card in support of its nominees. The Company will provide relevant materials to shareholders entitled to vote as of April 8, 2021.

Stratus Properties reported its 2020 financial results, showing a significant net loss of $22.8 million, equating to $2.78 per share. Revenue from leasing operations reached a record $24.1 million, up 24% from 2019, while real estate operations surged 64% to $22.6 million. A subsidiary sold The Saint Mary apartments for $60 million, generating $14 million in anticipated pre-tax gains. However, the hotel and entertainment segments suffered due to COVID-19, with occupancy dropping to 23% from 73%. Consolidated debt reached $351.1 million, with cash at $12.4 million.

Oasis Management Company Ltd. is a significant long-term shareholder of Stratus Properties Inc. (NASDAQ: STRS), owning over 13.5% of its ordinary shares. Oasis believes Stratus can enhance shareholder returns through improved corporate governance and a strategic plan. They issued an investor presentation titled 'A Better Stratus' and set a preliminary record date of March 19, 2021, for a shareholder vote during the annual meeting. Stakeholders can contact Oasis for further information and are encouraged to review upcoming SEC filings related to the proxy solicitation.