Stratus Properties: Gains after higher revenue, cash position in Q1

Stratus Properties

25/06/2020 16:04

** Shares of diversified real estate company  STRS.O  up
~11% at $17.80 in morning trade
    ** STRS Q1 consolidated revenue rises to $28.1 mln from
$19.7 mln in the year-ago-quarter
    ** Co continues to advance land planning, engineering and
permitting activities, while deferring progress on development
projects pending improvements in health and market conditions
    ** CEO says despite the challenging conditions, co has
sufficient liquidity, strong relationships with lenders and
communities for developing, leasing and monetizing its
sought-after properties
    ** Working with a hotel operator on plans to gradually ramp
up hotel operations over the next 12 months - Stratus
 urn:newsml:reuters.com:*:nBw24yYtca
    ** Flags adverse impact on operations continuing into the
second quarter of 2020
    ** Stock down 42.5% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))