STRS on OTC

STRATUS PROPERTIES INC

American land subdividers and developers company based in Austin2

In its 2026 annual report the company says: “We are a residential and retail focused real estate company with headquarters in Austin, Texas. We are engaged primarily in the entitlement, development, management, leasing and sale of multi-family and single-family residential and commercial real estate properties in the Austin, Texas area and other select markets in Texas.”53 Its shares trade on OTC under the symbol STRS.2

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Last updated Oct 20, 2026.

Overview

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  • TickerSTRS on OTC2
  • IndustryLand Subdividers & Developers (No Cemeteries)2
  • HeadquartersAustin, United States2
  • Incorporated inDE3
  • Business address212 Lavaca Street, Suite 300, Austin, Tx 787013
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5493008I6ZRDZWT8ZZ152
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 22907422

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

36.1%Operating margin5
9.4%Net margin5
-44.8%Revenue growth, 20255
1.4%Return on equity5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue82¢$37.1M
  • Income tax12¢$5.3M
  • Profit6¢$2.8M

Out of $29.9M in revenue.5

Financial statements

Revenue67895$29.9M in 2025−68% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $92.2M$92.2M20192020: $44.3M$44.3M2020−52%2021: $28.2M$28.2M2021−36%2022: $37.5M$37.5M2022+33%2023: $17.3M$17.3M2023−54%2024: $54.2M$54.2M2024+214%2025: $29.9M$29.9M2025−45%
Operating income6789105$10.8M in 2025+6% since 2019
-$50.0M0$50.0M$100.0M2019: $10.2M$10.2M20192020: -$6.7M-$6.7M20202021: $83.7M$83.7M20212022: -$7.8M-$7.8M20222023: -$16.9M-$16.9M2023+118%2024: -$2.2M-$2.2M2024−87%2025: $10.8M$10.8M2025
Net income6789105$2.8M in 2025
-$50.0M0$50.0M$100.0M2019: -$2.5M-$2.5M20192020: -$24.5M-$24.5M2020+892%2021: $63.2M$63.2M20212022: $89.7M$89.7M2022+42%2023: -$16.5M-$16.5M20232024: -$1.9M-$1.9M2024−88%2025: $2.8M$2.8M2025
Fiscal year2019202020212022202320242025
Revenue$92.2M6$44.3M7$28.2M8$37.5M9$17.3M9$54.2M5$29.9M5
Cost of revenue$75.3M6$37.4M7$24.2M8$31.8M9$19.0M10$43.0M5$37.1M5
Operating expenses-$55.4M8$45.3M9$34.2M10$56.3M5$19.1M5
Operating income$10.2M6-$6.7M7$83.7M8-$7.8M9-$16.9M10-$2.2M5$10.8M5
Interest
Income before tax$82.1M8-$6.7M9-$15.0M10-$1.5M5$8.1M5
Income tax$117.0K6$4.8M7$12.6M8$389.0K9$1.5M10$442.0K5$5.3M5
Net income-$2.5M6-$24.5M7$63.2M8$89.7M9-$16.5M10-$1.9M5$2.8M5
Earnings per share-$2.787$6.978$10.999-$1.8510$0.245$1.495
Earnings per share (diluted)-$2.787$6.908$10.999-$1.8510$0.245$1.475
Shares (weighted, basic)8.2M shares88.2M shares98.0M shares108.1M shares58.0M shares5
Shares (weighted, diluted)8.3M shares88.2M shares98.0M shares108.2M shares58.1M shares5

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Corporate structure

STRATUS PROPERTIES INC sits at the top of its group. 17 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of STRATUS PROPERTIES INC

  • Oasis Management Co Ltd. Filed SCHEDULE 13D/A on STRATUS PROPERTIES INC, latest Aug 4, 2026 (5 filings since Apr 6, 2023)
  • INGALLS & SNYDER LLC Filed SCHEDULE 13G/A on STRATUS PROPERTIES INC, latest Apr 23, 2026 (5 filings since Feb 4, 2022)
  • DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on STRATUS PROPERTIES INC, latest Apr 9, 2026 (4 filings since Feb 8, 2022)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on STRATUS PROPERTIES INC, latest Mar 27, 2026 (2 filings since Feb 13, 2024)
  • William H. Armstrong Iii. Filed SC 13G/A on STRATUS PROPERTIES INC, latest Feb 14, 2024 (3 filings since Feb 10, 2022)
  • KENNEDY CAPITAL MANAGEMENT LLC Filed SC 13G/A on STRATUS PROPERTIES INC, latest Feb 14, 2022
  • STRATUS PROPERTIES INC Austin, Texas, United States
    • Circle C Land, L.P. Subsidiary · Texas, United States
    • College Station 1892 Properties, L.L.C. Subsidiary · Texas, United States
    • Holden Hills Phase 2, L.P. Subsidiary · Texas, United States
    • Holden Hills, L.P. Subsidiary · Texas, United States
    • Killeen FM 440, L.L.C. Subsidiary · Texas, United States
    • Lantana Place, L.L.C. Subsidiary · Texas, United States
    • Magnolia East 149, L.L.C. Subsidiary · Texas, United States
    • New Caney 242 Investments, L.P. Subsidiary · Texas, United States
    • Stratus Block 150, L.P. Subsidiary · Texas, United States
    • STRATUS BLOCK 21, L.L.C. Subsidiary · Austin, Texas, United States
    • Stratus Investments LLC Subsidiary · Delaware, United States
    • Stratus Kingwood Place, L.P. Subsidiary · Texas, United States
    • Stratus Properties Operating Co., L.P. Subsidiary · Delaware, United States
    • The Saint George Apartments, L.P. Subsidiary · Texas, United States
    • The Saint June, L.P. Subsidiary · Texas, United States
    • The Villas at Amarra Drive, L.L.C. Subsidiary · Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What STRATUS PROPERTIES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$29.0K5 Dec 31, 2025$46.0K5 Dec 31, 2024−37.0%
Operating-lease assets (leased space)$10.2M5 Dec 31, 2025$10.1M5 Dec 31, 2024+1.5%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$436.6M5 Dec 31, 2025$452.1M5 Dec 31, 2024−3.4%
Real estate accumulated depreciation$12.3M5 Dec 31, 2025$16.6M5 Dec 31, 2024−25.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$74.3M5 Dec 31, 2025$20.2M5 Dec 31, 2024+268.2%

Leadership

Who has led STRATUS PROPERTIES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William H. Armstrong Iii.2006–now

Chair

  1. William H. Armstrong Iii.2006–now

President

  1. William H. Armstrong Iii.2006–now

Chief financial officer

  1. Erin D. Pickens2009–now
2010201520202025
Board members and other officers (12)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Circle C Land, L.P. Texas4
  • College Station 1892 Properties, L.L.C. Texas4
  • Holden Hills Phase 2, L.P. Texas4
  • Holden Hills, L.P. Texas4
  • Killeen FM 440, L.L.C. Texas4
  • Lantana Place, L.L.C. Texas4
  • Magnolia East 149, L.L.C. Texas4
  • New Caney 242 Investments, L.P. Texas4
  • Stratus Block 150, L.P. Texas4
  • Stratus Investments LLC Delaware4
  • Stratus Kingwood Place, L.P. Texas4
  • Stratus Properties Operating Co., L.P. Delaware4
  • The Saint George Apartments, L.P. Texas4
  • The Saint June, L.P. Texas4
  • The Villas at Amarra Drive, L.L.C. Texas4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • FM PROPERTIES INCFeb 11, 1994 to May 19, 19983

Timeline

  1. Jul 1, 20268-K Listing notice or transfer; Other events28
  2. Jun 26, 20268-K Completed an acquisition or sale; Other events29
  3. Jun 12, 20268-K Entered a material agreement30
  4. Jun 1, 20268-K Shareholder vote31
  5. May 28, 20268-K Entered a material agreement32
  6. May 12, 20268-K Results of operations33
  7. Mar 27, 20268-K Results of operations; Regulation FD disclosure34
  8. Mar 25, 20268-K Other events35
  9. Mar 11, 20268-K Other events36
  10. Feb 5, 20268-K Entered a material agreement; Completed an acquisition or sale; Other events37
  11. Dec 22, 20258-K Entered a material agreement; Other events38
  12. Nov 20, 20258-K Completed an acquisition or sale; Other events39
  13. Jan 3, 2006New chief executive William H. Armstrong Iii. becomes CEO14
  14. Mar 11, 1992Founded STRATUS PROPERTIES INC is founded2

Calendar

When it reported results

  1. May 12, 2026Reported quarterly or annual results33
  2. Mar 27, 2026Reported quarterly or annual results34
  3. Nov 12, 2025Reported quarterly or annual results40
  4. Aug 12, 2025Reported quarterly or annual results41
  5. May 15, 2025Reported quarterly or annual results42
  6. Mar 28, 2025Reported quarterly or annual results43
  7. Nov 13, 2024Reported quarterly or annual results44
  8. Aug 13, 2024Reported quarterly or annual results45

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

246 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 71 major events, 111 insider forms, 20 large holders, 25 other. The latest 20:

  1. Aug 10, 202615-15D EDGAR
  2. Aug 10, 202615-12G EDGAR
  3. Aug 4, 2026SCHEDULE 13D/A EDGAR
  4. Jul 31, 202625 EDGAR
  5. Jul 9, 20264 EDGAR
  6. Jul 7, 2026SCHEDULE 13D/A EDGAR
  7. Jul 2, 20264 EDGAR
  8. Jul 1, 20268-K EDGAR
  9. Jun 26, 20268-K EDGAR
  10. Jun 12, 20268-K EDGAR
  11. Jun 5, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 3, 2026144 EDGAR
  13. Jun 1, 20264 EDGAR
  14. Jun 1, 20264 EDGAR
  15. Jun 1, 20264 EDGAR
  16. Jun 1, 20264 EDGAR
  17. Jun 1, 20264 EDGAR
  18. Jun 1, 20264 EDGAR
  19. Jun 1, 20268-K EDGAR
  20. May 28, 20268-K EDGAR

The 246 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

44 open-market trades by officers, directors and large owners since October 2021: 4 buys and 40 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 8, 2026Oasis Investments II Master Fund Ltd.10% ownerSale28,720$27.51$790.0KForm 4
Jul 7, 2026Oasis Investments II Master Fund Ltd.10% ownerSale30,000$27.51$825.2KForm 4
Jul 2, 2026Fischer Seth10% ownerSale117,612$28.03$3.3MForm 4
Jun 30, 2026Fischer Seth10% ownerSale10,000$28.90$289.0KForm 4
Jun 3, 2026JOSEPH JAMESDirectorSale3,380$27.77$93.9KForm 4
May 26, 2026Oasis Management Co Ltd.10% ownerSale10,000$29.05$290.5KForm 4
May 18, 2026JOSEPH JAMESDirectorSale12,335$29.08$358.7KForm 4
May 7, 2026Oasis Investments II Master Fund Ltd.10% ownerSale720$30.03$21.6KForm 4
May 4, 2026Oasis Investments II Master Fund Ltd.10% ownerSale10,000$29.71$297.1KForm 4
Apr 28, 2026Oasis Investments II Master Fund Ltd.10% ownerSale4,916$30.03$147.6KForm 4
Apr 27, 2026Oasis Investments II Master Fund Ltd.10% ownerSale20,000$30.00$600.0KForm 4
Apr 24, 2026Fischer Seth10% ownerSale10,000$29.89$298.9KForm 4
Apr 22, 2026Fischer Seth10% ownerSale493$30.19$14.9KForm 4
Apr 20, 2026Oasis Investments II Master Fund Ltd.10% ownerSale4,483$30.02$134.6KForm 4
Apr 17, 2026Oasis Investments II Master Fund Ltd.10% ownerSale44,323$29.97$1.3MForm 4
Apr 16, 2026Oasis Investments II Master Fund Ltd.10% ownerSale29,788$30.07$895.8KForm 4
Apr 15, 2026Oasis Investments II Master Fund Ltd.10% ownerSale10,243$30.30$310.4KForm 4
Apr 8, 2026Fischer Seth10% ownerSale3,148$30.08$94.7KForm 4
Apr 7, 2026Fischer Seth10% ownerSale9,400$30.17$283.6KForm 4
Apr 2, 2026Oasis Investments II Master Fund Ltd.10% ownerSale5,417$30.11$163.1KForm 4

All 44 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024William H. Armstrong IIIChairman of the Board, President and Chief Executive Officer60$750.0K$1.8M52
2024Erin D. Pickens$400.0K$787.3K52
2023William H. Armstrong IIIChairman of the Board, President and Chief Executive Officer60$708.3K$1.4M52
2023Senior VicePresident and Chief Financial Officer$379.2K$697.7K52

SEC filer profile

How STRATUS PROPERTIES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSTRATUS PROPERTIES INC1
  • CIK0000885508
  • Employer ID (EIN)72-121157253
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company53
  • Incorporated inDelaware53
  • Fiscal year endsDecember 311
  • Industry code (SIC)6552 Land Subdividers & Developers (No Cemeteries)1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address212 Lavaca Street, Suite 300, Austin, TX 787011
  • Phone51247857881
  • Shares outstanding7,982,723 as of Apr 30, 202613
  • Public float$95.2M as of Jun 30, 202553
  • AuditorCohnReznick LLP, Frisco, Texas PCAOB ID 596; no auditor attestation of internal control over financial reporting53
  • On EDGAR sinceFeb 11, 19941
  • Filings1,155 in all: 4 (406), 8-K (300), 10-Q (90), SC 13G/A (87), DEFA14A (33), 10-K (27), DEF 14A (27), UPLOAD (21)1
    All 41 form types

    SC 13D/A (17), ARS (16), DFAN14A (15), 3 (13), SC 13G (13), CORRESP (10), S-8 POS (8), SC 13D (8), S-8 (7), 4/A (5), 10-Q/A (4), DEFC14A (4), PREC14A (4), SCHEDULE 13G/A (4), 10-K405 (3), 8-K/A (3), NT 10-Q (3), PRE 14A (3), PRER14A (3), PRRN14A (3), SCHEDULE 13D/A (3), 144 (2), 8-A12B (2), 8-A12B/A (2), 10-K405/A (1), 15-12G (1), 15-15D (1), 25 (1), 8-A12G (1), 8-A12G/A (1), DEFM14A (1), NT 10-K (1), PREM14A (1)

  • Latest filingsAnnual report (10-K) Mar 27, 2026
    Quarterly report (10-Q) May 12, 2026
    Proxy statement (DEF 14A) Apr 8, 2025
    Latest 8-K (8-K) Jul 1, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareSTRSThe NASDAQ Stock Market

From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).53

Risk factors and legal proceedings

The risks STRATUS PROPERTIES INC names in Item 1A of its 10-K filed Mar 27, 2026: 44 risks under these headings, as written.53

  • Risks Relating to the Plan of Liquidation
  • Risks Relating to Our Business and Industry
  • Risks Relating to Our Indebtedness
  • Risks Relating to Real Estate Operations
  • Risks Relating to Leasing Operations
  • Risks Relating to Ownership of Shares of Our Common Stock
  • The amount and timing of any liquidating distributions to stockholders may vary substantially from the estimated range of potential liquidating distributions.
  • The Plan of Liquidation requires stockholder approval and may not be completed on the timetable or on the terms currently contemplated.
  • We may be unable to sell or otherwise monetize our assets on the terms or timeline expected in the estimated range of potential liquidating distributions.
  • Our joint venture, partnership and subsidiary structures may limit our ability to control the timing and terms of dispositions and the timing of cash distributions to us.
  • We may need additional capital, lender consents or waivers, refinancing or project-level expenditures to complete the winding-down process.
  • If we rely on an out-of-court dissolution and winding up and the amounts reserved for claims, liabilities, expenses and obligations prove inadequate, liquidating distributions could be delayed or reduced and stockholders could be required to return prior distributions.
The other 38 risks
  • The announcement and pendency of the Plan of Liquidation may adversely affect our business, relationships and ability to retain personnel.
  • Winding-down costs, including public company costs, litigation, indemnification obligations, insurance and professional fees, may be substantial and may exceed our estimates.
  • The market price of our common stock may fluctuate significantly during the pendency of the Plan of Liquidation and may bear little relationship to the amount ultimately distributed to stockholders.
  • If we transfer remaining assets and liabilities to a liquidating trust, stockholders may receive illiquid interests and may incur tax liabilities without concurrent cash distributions.
  • During the course of the liquidation and dissolution process, we expect to change our basis of accounting, which could require us to write down our assets.
  • We cannot assure you that our current business strategy will be successful.
  • Inflation, more limited availability of equity capital, construction and labor cost increases, supply chain constraints, labor shortages, higher borrowing costs and tightened bank credit have had an adverse impact on us and may continue to do so.
  • Changes in U.S. tariffs and trade policies could adversely affect our business.
  • A decline in general economic conditions, particularly in the Austin, Texas area, could harm our business.
  • We are vulnerable to concentration risks because our operations are primarily located in the Austin, Texas area and are focused on pure residential and residential-centric mixed-use real estate.
  • We may not be able to raise additional capital for future projects on acceptable terms, if at all.
  • Part of our business strategy depends on maintaining strong relationships with key tenants and our inability to do so could adversely affect our business.
  • Loss of key personnel could negatively affect our business.
  • We could be impacted by our investments through joint ventures, which involve risks not present in investments in which we are the sole owner.
  • Adverse weather conditions, public safety issues, geopolitical instability, and other potentially catastrophic events in our Texas markets could adversely affect our business.
  • Our insurance coverage on our properties may be inadequate to cover any losses we may incur and our insurance costs may increase.
  • Our business may be adversely affected by information technology disruptions and cybersecurity breaches of our systems or the systems of our contractors.
  • Any major public health crisis could adversely affect our business.
  • Failure to succeed in new markets may limit our growth.
  • We have significant amounts of debt, may incur additional debt, and need significant amounts of cash to service our debt. If we are unable to generate sufficient cash to service our debt, or are unable to refinance our debt as it becomes due, our liquidity, financial condition and results of operations could be materially and adversely affected.
  • Our current financing arrangements contain, and our future financing arrangements likely will contain, financial and restrictive covenants, and the failure to comply with such covenants could result in a default that accelerates the required payment of such debt.
  • Our business, results of operations, cash flows and financial condition are greatly affected by the performance of the real estate industry.
  • There can be no assurance that the properties in our development portfolio will be completed in accordance with the anticipated timing or cost.
  • Holden Hills Phase 1 involves the development of a large number of residential lots, which exposes us to risks specific to that business.
  • Challenges to the ETJ Law and the removal of our property thereunder may make valuation of Holden Hills Phases 1 and 2 more difficult and execution of our development plans more complex and costly.
  • Risks associated with our ownership of substantial amounts of undeveloped land or land under development could adversely affect our business and financial results.
  • We may not receive, or may experience delays in receiving, reimbursements from MUDs for certain infrastructure costs we incur, which could adversely affect our liquidity and the profitability of our development projects.
  • It may be difficult for us to sell our real estate at times and prices advantageous to us.
  • Significant competition could have an adverse effect on our business.
  • Our operations are subject to an intensive regulatory approval process and opposition from environmental and special interest groups, either or both of which could cause delays and increase the costs of our development efforts or preclude such developments entirely.
  • Our operations are subject to environmental regulations, which can change at any time and could increase our costs. Further, evolving governmental and societal expectations on sustainability matters may increase our costs.
  • We are subject to litigation or other claims, which could materially and adversely affect us.
  • We may be unable to achieve and sustain satisfactory occupancy and rental rates at our retail and mixed-use projects.
  • We may be unable to achieve and sustain satisfactory occupancy and rental rates at our multi-family properties.
  • Costs in our leasing operations, many of which are fixed, may continue to increase.
  • Our common stock is thinly traded; therefore, our stock price may fluctuate more than the stock market as a whole and it may be difficult to sell large numbers of our shares at prevailing trading prices.
  • Our charter documents and Delaware law contain anti-takeover provisions and our by-laws contain an exclusive forum provision.
  • We may not pay dividends on our common stock or repurchase shares of our common stock in the future.

Legal proceedings

We are from time to time involved in legal proceedings that arise in the ordinary course of our business. We do not believe, based on currently available information, that the outcome of any legal proceeding will have a material adverse effect on our financial condition or results of operations. We maintain liability insurance to cover some, but not all, potential liabilities normally incident to the ordinary course of our business as well as other insurance coverage customary in our business, with such coverage limits as management deems prudent. Refer to Part I, Item 1A. “Risk Factors” for further discussion.

The opening of Item 3, Legal Proceedings.53

Sources

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