$STRS

STRATUS PROPERTIES INC

CIK:0000885508|SEC Filings

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues:
Real estate operations	$ 82	$ 25
Leasing operations	3,709	5,018
Total revenues	3,791	5,043
Cost of sales:
Depreciation and amortization	1,449	1,394
Total cost of sales	5,697	4,787
General and administrative expenses	5,590	4,051
Profit Participation Payout	78	0
Gain on sale of assets	(22,976)	(200)
Total	(11,611)	8,638
Operating income (loss)	15,402	(3,595)
Interest Expense, Other	(60)	0
Loss on interest rate cap agreements	0	(13)
Loss on extinguishment of debt	(383)	(183)
Other income (loss), 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 (loss) income per share attributable to common stockholders (in usd per share)	$ 0.83	$ (0.36)
Diluted net (loss) income per share attributable to common stockholders (in usd per share)	$ 0.82	$ (0.36)
Basic weighted average number of shares outstanding, basic (in shares)	7,962	8,037
Diluted weighted average number of shares outstanding, basic (in shares)	8,055	8,037
Real estate operations
Revenues:
Real estate operations	$ 82	$ 25
Cost of sales:
Cost of sales	2,120	1,480
Leasing operations
Cost of sales:
Cost of sales	$ 2,128	$ 1,913

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 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	0	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)
Profit Participation Payout	78	0
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	0
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	0	4,000
Borrowings from project and term loans	366	57,969
Payments on project and term loans	(33,150)	(48,916)
Payment of dividends	0	(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

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 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
Asset, Held-for-Sale, Not Part of Disposal Group	0	37,102
Total assets	532,493	563,428
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
Disposal Group, Including Discontinued Operation, Liabilities	0	33,387
Total liabilities	182,065	216,349
Commitments and contingencies
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