NASDAQ: STRS
STRATUS PROPERTIES INCCIK 0000885508 · SIC 6552 · Land Subdividers & Developers
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Stratus declares $5.00/share liquidating distribution, to delist from Nasdaq Aug 10
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Stratus completes $46.5M Jones Crossing retail sale, netting $21.7M toward liquidation
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Stratus subsidiary secures $9.9M loan increase, extends maturity to Aug 2027 for development
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Stratus Properties stockholders approve plan of complete liquidation and dissolution
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Stratus Properties agrees to sell Jones Crossing retail property for $46.5M cash
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Stratus Properties reports first-quarter 2026 earnings results
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revenue $3.8M, net income $13.5M. Stratus Properties approves liquidation plan with -/share distribution target
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revenue $29.9M, net income $12.0M. Stratus approves liquidation plan, targets -/share distributions after asset sales
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Stratus Properties reports full-year 2025 financial results
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Latest financial statements
From 10-Q filed May 12, 2026 (period ending Mar 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
(In Thousands, Except Per Share Amounts)
| Description | Three months ended March 31, 2026 | Three months ended March 31, 2025 |
|---|---|---|
| Revenues: | ||
| Real estate operations | 82 | 25 |
| Leasing operations | 3,709 | 5,018 |
| Total revenues | 3,791 | 5,043 |
| Cost of sales: | ||
| Real estate operations | 2,120 | 1,480 |
| Leasing operations | 2,128 | 1,913 |
| Depreciation and amortization | 1,449 | 1,394 |
| Total cost of sales | 5,697 | 4,787 |
| General and administrative expenses | 5,590 | 4,051 |
| H-E-B profit participation | 78 | — |
| Gain on sale of assets | (22,976) | (200) |
| Total | (11,611) | 8,638 |
| Operating income (loss) | 15,402 | (3,595) |
| Interest expense, net | (60) | — |
| Loss on interest rate cap agreements | — | (13) |
| Loss on extinguishment of debt | (383) | (183) |
| Other income, net | 666 | 64 |
| Income (loss) before income taxes | 15,625 | (3,727) |
| Provision for income taxes | (2,116) | (30) |
| Net income (loss) and total comprehensive income (loss) | 13,509 | (3,757) |
| Total comprehensive (income) loss attributable to noncontrolling interests | (6,882) | 882 |
| Net income (loss) and total comprehensive income (loss) attributable to common stockholders | 6,627 | (2,875) |
| Basic net income (loss) per share attributable to common stockholders | 0.83 | (0.36) |
| Diluted net income (loss) per share attributable to common stockholders | 0.82 | (0.36) |
| Weighted-average shares of common stock outstanding: | ||
| Basic | 7,962 | 8,037 |
| Diluted | 8,055 | 8,037 |
Consolidated Balance Sheets (Unaudited)
(In Thousands)
| Description | March 31, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 73,539 | 74,288 |
| Restricted cash | 757 | 335 |
| Real estate held for sale | 8,477 | 8,476 |
| Real estate under development | 187,095 | 186,093 |
| Land available for development | 81,636 | 74,529 |
| Real estate held for investment, net | 166,068 | 167,471 |
| Lease right-of-use assets | 10,071 | 10,237 |
| Deferred tax assets | 206 | 206 |
| Other assets | 4,644 | 4,691 |
| Assets held for sale | — | 37,102 |
| Total assets | 532,493 | 563,428 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Accounts payable | 9,891 | 8,589 |
| Accrued liabilities, including taxes | 10,171 | 10,118 |
| Debt | 143,759 | 142,957 |
| Lease liabilities | 15,986 | 16,033 |
| Deferred gain | 717 | 833 |
| Other liabilities | 1,541 | 4,432 |
| Liabilities held for sale | — | 33,387 |
| Total liabilities | 182,065 | 216,349 |
| Commitments and contingencies | ||
| Equity: | ||
| Stockholders’ equity: | ||
| Common stock | 98 | 98 |
| Capital in excess of par value of common stock | 203,725 | 202,256 |
| Retained earnings | 47,210 | 40,583 |
| Common stock held in treasury | (39,318) | (38,451) |
| Total stockholders’ equity | 211,715 | 204,486 |
| Noncontrolling interests in subsidiaries | 138,713 | 142,593 |
| Total equity | 350,428 | 347,079 |
| Total liabilities and equity | 532,493 | 563,428 |
Consolidated Statements of Cash Flows (Unaudited)
(In Thousands)
| Description | Three months ended March 31, 2026 | Three months ended March 31, 2025 |
|---|---|---|
| Cash flow from operating activities: | ||
| Net income (loss) | 13,509 | (3,757) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 1,449 | 1,394 |
| Loss on interest rate cap agreements | — | 13 |
| Loss on extinguishment of debt | 383 | 183 |
| Stock-based compensation | 1,463 | 369 |
| Debt issuance cost amortization | 252 | 345 |
| Gain on sale of assets | (22,976) | (200) |
| H-E-B profit participation | 78 | — |
| Purchases and development of real estate properties | (7,729) | (7,212) |
| Decrease in other assets | 299 | 792 |
| Decrease in accounts payable, accrued liabilities and other | (2,323) | (5,422) |
| Net cash used in operating activities | (15,595) | (13,495) |
| Cash flow from investing activities: | ||
| Capital expenditures | (42) | (4,527) |
| Proceeds from sale of assets, net of selling costs | 59,980 | — |
| Payments on master lease obligations | (140) | (166) |
| Net cash provided by (used in) investing activities | 59,798 | (4,693) |
| Cash flow from financing activities: | ||
| Borrowings from credit facility | — | 4,000 |
| Borrowings from project and term loans | 366 | 57,969 |
| Payments on project and term loans | (33,150) | (48,916) |
| Payment of dividends | — | (236) |
| Finance lease principal payments | (4) | (4) |
| Stock-based awards net payments | (378) | (336) |
| Noncontrolling interest distributions | (10,762) | (856) |
| Purchases of treasury stock | (489) | (410) |
| Financing costs | (113) | (1,220) |
| Net cash (used in) provided by financing activities | (44,530) | 9,991 |
| Net decrease in cash, cash equivalents and restricted cash | (327) | (8,197) |
| Cash, cash equivalents and restricted cash at beginning of year | 74,623 | 21,154 |
| Cash, cash equivalents and restricted cash at end of period | 74,296 | 12,957 |
Amounts as printed on the EDGAR/iXBRL face — (In Thousands, Except Per Share Amounts); (In Thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗