secwatch.observer — SEC 8-K summary
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Issuer:     STRATUS PROPERTIES INC (STRS)
CIK:        0000885508
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0000885508-23-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stratus Properties Q2 2023 net loss $5.3M; revenue down 68% on no property sales
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- Net loss of $5.3M ($0.64/diluted share) vs net income of $96.6M ($11.53) in Q2 2022; six-month loss $11.1M.
- Total revenue fell to $3.53M from $11.1M; leasing revenue up to $3.47M but real estate ops revenue near zero.
- EBITDA was negative $3.84M vs positive $1.46M a year ago; operating loss widened to $5.35M.
- The Saint June (182-unit multifamily) began occupancy July 2023, completion expected Sept 2023.
- Share buybacks consumed $9.8M of $10M authorization; cash $44.1M, no revolver drawn, debt $137.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885508/000088550823000033/0000885508-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885508/000088550823000033/strs-20230814.htm
  HTML page:      https://secwatch.observer/filing/0000885508-23-000033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer