Stratus Properties (STRS) Reports Q3 Loss of $0.36

Stratus Properties (NASDAQ: STRS) reported Q3 EPS of ($0.36), versus ($0.29) reported last year.

William H. Armstrong III, Chairman, President and Chief Executive Officer, stated, “We have continued to execute our full cycle development program throughout 2019, and specifically in the third quarter, we have achieved several milestones. As we announced during the quarter, we closed a $75.0 million loan to refinance The Santal. We believe the refinancing provided a tax efficient return of capital and allowed us to maintain ownership of a high-quality asset that we expect to appreciate in value over time. We also continue to explore opportunities related to our Block 21 property, including a possible sale or recapitalization. Meanwhile, we are pleased with the progress and development of our other properties, including leasing and occupancy rates, reflecting the strength of our portfolio and markets. Our progress and market conditions continue to provide a favorable outlook for Stratus and its shareholders.”

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

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