Stratus Properties (STRS) Reports Q2 Loss of $0.11, Beats on Revenues

Stratus Properties (NASDAQ: STRS) reported Q2 EPS of ($0.11). Revenue for the quarter came in at $21.43 million versus the consensus estimate of $2.41 million.

Highlights:

• In August 2017, finalized a 99-year ground lease on a 72-acre tract of land in College Station, Texas, for Jones Crossing, a new HEB Grocery Company, L.P. (HEB)-anchored, approximately $50 million, mixed-use project planned for approximately 258,000 square feet of commercial space
• In June 2017, commenced construction on the first phase of Lantana Place, an approximately $40 million, 320,000-square-foot, mixed-use development project in southwest Austin
• Expects to commence construction of the approximately $40 million Santal Phase II, a 212-unit garden style multi-family project in Barton Creek in third-quarter 2017, subject to completion of construction financing
• For second-quarter 2017, generated real estate sales revenue of $4.0 million from the sale of Barton Creek and Circle C properties
• For second-quarter 2017, operating income for the Entertainment segment, which includes Austin City Limits Live (ACL Live) and the 3TEN ACL Live venue, increased by 60 percent compared to second-quarter 2016

For earnings history and earnings-related data on Stratus Properties (STRS) click here.

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