Stratus Properties
Selling and leasing Texas real estate while winding down through an approved liquidation plan.
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Profile
Develops, leases, and sells residential, retail, and mixed-use real estate concentrated in Austin and other Texas markets. Revenue comes from property sales, rent, and development or asset-management fees, while the current public-company path centers on selling assets, distributing proceeds, and leaving Nasdaq.
Develops, manages, leases, and sells residential, retail, and mixed-use real estate, with reported segments in Real Estate Operations and Leasing Operations. Revenue comes from developed and undeveloped property sales, rent from company-developed properties, and development or asset-management fees.
Operations are concentrated in Austin and other selected Texas markets. The model relies on entitlements, permits, tenants, financing, joint ventures, property-sale timing, and oversight of outside consultants and contractors.
Public-company activity is now liquidation-centered after stockholder approval of a complete liquidation and dissolution plan. The plan calls for selling all or substantially all assets, distributing net proceeds after liabilities, and voluntarily leaving Nasdaq under the company-announced timetable.
Company facts
Key statistics
Year to date −19.5% · Average volume (30d) 98.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 12, 2026Q1 FY26 | — | $0.82 | — | — | $3.8M | — | +1.25% |
| Mar 27, 2026Q4 FY25 | — | $2.41 | — | — | $8.3M | — | +2.79% |
| Nov 12, 2025Q3 FY25 | — | −$0.62 | — | — | $5.0M | — | +0.53% |
| Aug 12, 2025Q2 FY25 | — | $0.03 | — | — | $11.6M | — | +4.65% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.3M | $5.0M | $11.6M | $5.0M | $8.3M | $3.8M | |
| Gross profit | $1.9M | $256.0K | −$2.2M | −$2.2M | −$981.0K | −$3.4M | |
| Operating income | −$1.4M | −$3.6M | −$759.0K | −$8.1M | −$4.3M | −$7.6M | |
| Net income | −$507.0K | −$2.9M | $260.0K | −$5.0M | $19.6M | $6.6M | |
| Diluted EPS | −$0.06 | −$0.36 | $0.03 | −$0.62 | $2.41 | $0.82 | |
| Gross margin | 18.3% | 5.1% | -19.0% | -43.4% | -11.8% | -88.5% | |
| Operating margin | -13.6% | -71.3% | -6.5% | -162.9% | -51.7% | -199.8% |
Fiscal years (4-quarter sums)FY21 $28.2M · FY22 $37.5M · FY23 $17.3M · FY24 $54.2M · FY25 $29.9M
Revenue by product · Q1 FY26
Balance sheet, Mar 31, 2026Cash & short-term investments $74.3M · Total debt $159.7M · Total assets $532.5M · Shareholders' equity $211.7M
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 13, 2026 | Jul 13 | Jul 20 | $5.00 | |
| Sep 16, 2022 | Sep 19 | Sep 29 | $4.67 | special dividend |
Ownership
Shares outstanding 7.98M · Float 6.45M · 80.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ingalls & Snyder LLC | 1.09M | 13.60% | 13G | Apr 23, 2026 |
| Oasis Management Co Ltd. · 10 percent owner | 784.8K | 9.83% | Form 4 | Jul 9, 2026 |
| William H. Iii Armstrong · director, officer: Chair of Board, President, CEO | 683.9K | 8.57% | Form 4 | Mar 17, 2026 |
| Oasis Investments II Master Fund Ltd. | 666.6K | 8.40% | 13D | Aug 4, 2026 |
| Dimensional Fund Advisors LP | 384.2K | 4.81% | 13F | May 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 8, 2026 | Oasis Management Co Ltd. | 10 percent owner | −28,720 | $27.51 |
| Jul 7, 2026 | Oasis Management Co Ltd. | 10 percent owner | −30,000 | $27.51 |
| Jul 2, 2026 | Oasis Management Co Ltd. | 10 percent owner | −117,612 | $28.03 |
| Jun 30, 2026 | Oasis Management Co Ltd. | 10 percent owner | −10,000 | $28.90 |
| Jun 3, 2026 | James Joseph | director | −3,380 | $27.77 |
Peers
- Howard Hughes
Master-planned communities, land sales, and mixed-use leasing
- Forestar Group
Entitled land and finished residential lots for builders
- Green Brick Partners
Texas land development, neighborhoods, and homebuilding
- Five Point
Large California planned communities and land sales
- St. Joe
Entitled land, residential communities, and leasing in Florida
- CTO Realty Growth
Open-air retail leasing and Texas shopping-center assets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Stratus Properties | $19.32 | 0.00% | $154.2M | 7.3 | — | 5.4 | −24.8% |
| Howard Hughes | $64.80 | −0.06% | $3.86B | 13.1 | 19.9 | 1.6 | +330.2% |
| Forestar Group | $28.63 | +0.17% | $1.46B | 8.6 | 10.1 | 0.8 | +4.2% |
| Green Brick Partners | $74.74 | +2.01% | $3.15B | 11.0 | 11.9 | 1.6 | −10.1% |
| Five Point | $5.11 | −0.10% | $363.3M | 14.7 | — | 3.1 | +86.0% |
| St. Joe | $67.32 | −0.07% | $3.83B | 31.5 | — | 7.0 | +23.1% |
| CTO Realty Growth | $21.60 | +0.23% | $808.6M | 15.2 | 34.1 | 5.0 | +16.5% |
| Median | 13.9 | 15.9 | 2.4 | +19.8% |