Stratus Properties (STRS) Reports Q3 Loss of $0.29, Revenues Beat

Stratus Properties (NASDAQ: STRS) reported Q3 EPS of ($0.29), versus $0.00 reported last year. Revenue for the quarter came in at $17.92 million versus the consensus estimate of $2.41 million.

William H. Armstrong III, Chairman, President and Chief Executive Officer, stated, “We are pleased to announce that we have partnered with Texas grocery chain HEB to purchase a 38-acre tract in New Caney, Texas to develop a new HEB-anchored, mixed-use project. The property is located in a fast-growing, dynamic area, approximately eight miles north of our Kingwood Place project, and will be our second project in the Houston area. This will be our seventh HEB-anchored project. We believe this is another example of the value we can create by leveraging our strong working relationships and long track record operating in growing Texas markets.”

Armstrong continued, “This year we offered for the first time project-level equity financing structures and we were pleased with the strong interest we received from highly-qualified third-party limited partners. These arrangements make efficient use of our balance sheet and enable further portfolio diversification, allowing us to continue to expand our portfolio of development projects and create value for our shareholders.”

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

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