Stratus Prop Stock Price, News & Analysis

Stratus Properties Inc. (NASDAQ: STRS) has completed construction financing for the first phase of Magnolia Place in Magnolia, Texas, a mixed-use project shadow-anchored by H-E-B grocery. On August 12, 2021, a $14.8 million construction loan was secured with Veritex Community Bank. The development will include 4 retail buildings, 194 single-family lots, and around 500 multi-family units. The project responds to increased residential demand in Texas. Stratus also explores a potential sale of land for single-family residential development.

Stratus Properties Inc. (NASDAQ: STRS) reported a net loss of $10.2 million ($1.23 per share) for Q2 2021, contrasting with a net income of $4.1 million in Q2 2020. The loss mainly stemmed from decreased sales and the absence of a significant gain from prior agreements. EBITDA was $(4.4) million, compared to $12.3 million a year earlier. Despite challenges, Stratus initiated several development projects, including The Saint June and Magnolia Place. The company reported total consolidated revenue of $11.6 million for Q2 2021, up from $8.9 million in Q2 2020.

Stratus Properties Inc. (NASDAQ: STRS) has appointed Laurie L. Dotter as an independent Class I director on its Board of Directors, effective immediately. Dotter brings over 30 years of real estate investment experience, including leadership roles in various firms and her tenure as Chair of the Audit Committee at Parkway Properties. This appointment aligns with Stratus' goal to enhance Board diversity and follows shareholder approval from the 2021 annual meeting. Dotter will also serve on the Audit and Compensation Committees, expanding the Board to eight members, seven of whom are independent.

Stratus Properties Inc. (NASDAQ: STRS) will release its second-quarter 2021 financial results before market opening on August 16, 2021. A conference call is scheduled for 11:00 a.m. Eastern Time on the same day, with domestic and international dial-in numbers provided for participation. The earnings release and conference call replay will be accessible on Stratus' website until August 30, 2021. Stratus focuses on acquiring, developing, and managing commercial and residential properties, hotel, and entertainment businesses mainly in Austin and other fast-growing Texas markets.

Stratus Properties Inc. (NASDAQ: STRS) announced plans for The Saint June, a 182-unit luxury multi-family development in the Barton Creek community. Spanning approximately 36 acres, the project includes amenities such as a clubhouse, fitness center, and pool. Financed by a $30.3 million construction loan and additional equity, Stratus will hold 34.13% equity in the limited partnership that owns the project. Construction is expected to start by Q2 2021 with move-ins slated for late 2022, enhancing Stratus's leasing operations and emphasizing sustainable luxury.

Stratus Properties Inc. (NASDAQ: STRS) announced the results of its 2021 annual meeting, where shareholders elected directors Jim Leslie and Neville Rhone, Jr., and approved the appointment of Laurie Dotter to expand the Board. Approximately 13% of shares voted for Oasis Management's nominees. Chairman William H. Armstrong III expressed shareholder support for the Board's strategic vision, particularly regarding a potential REIT conversion. Other approved measures included executive compensation and the appointment of an independent auditor, while a rights agreement amendment was not ratified.

Stratus Properties Inc. (NASDAQ: STRS) has issued a letter to shareholders ahead of the 2021 Annual Meeting on June 4, 2021. The letter highlights the endorsement from Institutional Shareholder Services (ISS) for the Company's WHITE proxy card, encouraging shareholders to vote FOR nominees Jim Leslie and Neville Rhone, Jr. ISS supports Stratus' efforts to refresh its Board with diverse directors and evaluates the potential conversion to a real estate investment trust (REIT). Shareholders are reminded of the upcoming voting deadline, and questions can be directed to the Company's proxy solicitor.

Stratus Properties Inc. (NASDAQ: STRS) issued a letter to shareholders defending its board against claims made by Oasis Management Ltd., which is contesting the board's potential conversion to a REIT. CEO Beau Armstrong criticized Oasis for its lack of a viable alternative strategy and alleged personal attacks. The letter emphasizes that Oasis's interests conflict with those of U.S. shareholders due to tax implications of a REIT conversion. Stratus highlights its strategic plans, including its confidence in the Holden Hills project and its strong historical total shareholder return of 10.2% annually.

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.