STRATUS PROPERTIES INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets (Unaudited)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $20,741 | $31,397 |
| Restricted cash | 787 | 1,035 |
| Real estate held for sale | 7,342 | 7,382 |
| Real estate under development | 273,417 | 260,642 |
| Land available for development | 39,735 | 47,451 |
| Real estate held for investment, net | 143,079 | 144,112 |
| Lease right-of-use assets | 10,932 | 11,174 |
| Deferred tax assets | 173 | 173 |
| Other assets | 13,311 | 14,400 |
| Total assets | $509,517 | $517,766 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Accounts payable | $14,869 | $15,629 |
| Accrued liabilities, including taxes | 3,669 | 6,660 |
| Debt | 168,174 | 175,168 |
| Lease liabilities | 15,792 | 15,866 |
| Deferred gain | 2,488 | 2,721 |
| Other liabilities | 4,681 | 7,117 |
| Total liabilities | 209,673 | 223,161 |
| Commitments and contingencies | ||
| Equity: | ||
| Stockholders’ equity: | ||
| Common stock | 97 | 96 |
| Capital in excess of par value of common stock | 199,674 | 197,735 |
| Retained earnings | 31,197 | 26,645 |
| Common stock held in treasury | (33,395) | (32,997) |
| Total stockholders’ equity | 197,573 | 191,479 |
| Noncontrolling interests in subsidiaries | 102,271 | 103,126 |
| Total equity | 299,844 | 294,605 |
| Total liabilities and equity | $509,517 | $517,766 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)
(In Thousands, Except Per Share Amounts)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Revenues: | ||
| Real estate operations | $22,123 | $2,493 |
| Leasing operations | 4,384 | 3,309 |
| Total revenues | 26,507 | 5,802 |
| Cost of sales: | ||
| Real estate operations | 15,278 | 4,487 |
| Leasing operations | 1,678 | 1,261 |
| Depreciation and amortization | 1,401 | 928 |
| Total cost of sales | 18,357 | 6,676 |
| General and administrative expenses | 4,465 | 4,719 |
| Total | 22,822 | 11,395 |
| Operating income (loss) | 3,685 | (5,593) |
| Loss on extinguishment of debt | (59) | — |
| Other income, net | 173 | 485 |
| Income (loss) before income taxes and equity in unconsolidated affiliates' loss | 3,799 | (5,108) |
| Provision for income taxes | (102) | (1,162) |
| Equity in unconsolidated affiliates' loss | — | (3) |
| Net income (loss) and total comprehensive income (loss) | 3,697 | (6,273) |
| Total comprehensive loss attributable to noncontrolling interests | 855 | 472 |
| Net income (loss) and total comprehensive income (loss) attributable to common stockholders | $4,552 | $(5,801) |
| Basic net income (loss) per share attributable to common stockholders | $0.57 | $(0.73) |
| Diluted net income (loss) per share attributable to common stockholders | $0.56 | $(0.73) |
| Weighted-average shares of common stock outstanding: | ||
| Basic | 8,026 | 7,986 |
| Diluted | 8,151 | 7,986 |
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