Star Holdings Reports Third Quarter 2025 Results

Rhea-AI Summary

Star Holdings (NASDAQ: STHO) filed its Form 10-Q for the quarter ended September 30, 2025 reporting net income attributable to common shareholders of $1.8 million and EPS of $0.14.

Results included a $0.9 million non‑cash mark‑to‑market adjustment that reduced EPS by $0.07 related to an investment of approximately 13.5 million SAFE shares. During Q3 the company recorded $1.7 million of land revenues from the sale of 12 Magnolia Green lots, received $4.7 million net cash from a legal settlement on a legacy asset, and repurchased ~0.4 million common shares for $3.3 million at an average price of $8.48.

Star Holdings says it will focus on realizing shareholder value through active asset management and asset sales; full results and disclosures are available in the company Form 10‑Q.

Positive

• Net income of $1.8 million in Q3 2025
• $4.7 million net cash proceeds from legacy asset legal settlement
• $1.7 million land revenues from sale of 12 Magnolia Green lots
• Repurchased ~0.4 million shares for $3.3 million at $8.48 average

Negative

• Non‑cash mark‑to‑market adjustment of ($0.9 million) reduced EPS by $0.07
• Holds approximately 13.5 million SAFE shares, exposing results to valuation volatility

Insights

Corporate finance analyst

Small net profit, one-time items, and a share repurchase leave near-term investor impact limited.

Star Holdings reported net income attributable to common shareholders of $1.8 million and earnings per share of $0.14 for the quarter ended September 30, 2025. Results include a non-cash mark-to-market adjustment of ($0.9 million) that reduced EPS by $0.07, $1.7 million of land-sale revenues (12 Magnolia Green lots), and $4.7 million of net cash from a legal settlement.

The company also repurchased ~0.4 million shares for $3.3 million at an average of $8.48 per share, which modestly tightens shares outstanding and uses available cash. Monitor quarterly cash flow and disclosure in the Form 10-Q for working capital, debt maturities, and realized gains over the next two quarters.

Real estate asset manager

Operational receipts and asset monetizations drove cash; core portfolio performance not fully shown by headline profit.

Land revenue of $1.7 million from 12 lot sales and the $4.7 million settlement boosted cash but reflect discrete monetizations rather than recurring income. The portfolio is described as interests in waterfront and residential developments and assets "for sale or otherwise plan to be monetized," indicating reliance on asset sales to generate returns.

Key items to watch in the next two to four quarters include pace of lot sales at Magnolia Green, timing and size of further asset monetizations, and the company’s disclosure of cash deployment versus debt paydown; those details in the Form 10-Q will clarify sustainability of cash flow.

NEW YORK, Nov. 7, 2025 /PRNewswire/ -- Star Holdings (NASDAQ: STHO) announced today that it has filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 with the Securities and Exchange Commission. 

Net income (loss) attributable to common shareholders for the third quarter was $1.8 million and earnings (loss) per share was $0.14. These results reflect a non-cash adjustment of ($0.9 million) which decreased earnings per share by $0.07 with respect to our investment in approximately 13.5 million shares of SAFE based on a mark-to-market at quarter end.

During the third quarter, the Company recorded $1.7 million of land revenues, which was comprised of revenues from the sale of 12 lots at Magnolia Green, and received $4.7 million of net cash proceeds related to a legal settlement on a legacy iStar asset.

Additionally, the Company repurchased approximately 0.4 million shares of its outstanding common stock for $3.3 million at an average share price of $8.48.

Further details regarding the Company's results of operations, assets and activities are available in the Company's Form 10-Q for the quarter ended September 30, 2025 which is available for download at the Company's website www.starholdingsco.com or at the Securities and Exchange Commission website www.sec.gov.

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Star Holdings' (NASDAQ: STHO) portfolio is comprised primarily of interests in the Asbury Park Waterfront, the Magnolia Green residential development projects and other commercial real estate properties and loans that are for sale or otherwise plan to be monetized. Star Holdings also owns shares of Safehold Inc. (NYSE: SAFE). Star Holdings expects to focus on realizing value for shareholders from its portfolio primarily by maximizing cash flows through active asset management and asset sales.  Additional information on Star Holdings is available on its website at www.starholdingsco.com.

Company Contact:
Pearse Hoffmann
Senior Vice President
Head of Corporate Finance
T 212.930.9400
E investors@starholdingsco.com 

 

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SOURCE Star Holdings

FAQ

What were Star Holdings (STHO) Q3 2025 net income and EPS?

Star Holdings reported Q3 2025 net income attributable to common shareholders of $1.8 million and EPS of $0.14.

How did the SAFE investment affect Star Holdings Q3 2025 earnings (STHO)?

A $0.9 million non‑cash mark‑to‑market adjustment on the ~13.5 million SAFE share investment lowered EPS by $0.07 in Q3.

How much cash did Star Holdings (STHO) receive from the legal settlement in Q3 2025?

Star Holdings received $4.7 million of net cash proceeds from a legal settlement on a legacy asset in Q3 2025.

What land-sale revenue did Star Holdings (STHO) report in Q3 2025?

The company recorded $1.7 million of land revenues from the sale of 12 Magnolia Green lots in Q3 2025.

How many shares did Star Holdings (STHO) repurchase in Q3 2025 and at what price?

Star Holdings repurchased approximately 0.4 million common shares for $3.3 million at an average price of $8.48.