Stratus Prop Stock Price, News & Analysis

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.

Stratus Properties Inc. (NASDAQ: STRS) will release its financial results for the year ended December 31, 2020, on March 15, 2021, before market opening. A conference call is scheduled for 11:00 a.m. Eastern Time on the same day for investors to participate. Stratus is involved in the acquisition, development, and management of real estate properties, primarily in Texas. The company also plans to file a definitive proxy statement for its 2021 Annual Meeting, which will include board of directors’ nominations and relevant shareholder information. The earnings release will be accessible on Stratus' website.

Stratus Properties Inc. (NASDAQ: STRS) has appointed Kate B. Henriksen as an independent Class III director, effective immediately. Henriksen, currently Co-Chief Investment Officer of RLJ Lodging Trust, brings extensive experience in real estate investing and REIT operations, having overseen transactions totaling $8 billion. Her appointment, alongside Neville L. Rhone, Jr., follows a comprehensive review of the Board's composition. The Board now includes seven members, with six being independent. Henriksen is expected to enhance strategic direction and shareholder value at Stratus.