Star Holdings (STHO) Q4 2024 earnings summary

Executive summary

• Reported net loss attributable to common shareholders of ($102.6) million for Q4 2024 and ($86.8) million for the full year.

• Portfolio consists mainly of interests in Asbury Park Waterfront, Magnolia Green residential projects, and other commercial real estate assets and loans intended for monetization.

• Focus remains on maximizing shareholder value through active asset management and asset sales.

Financial highlights

• Q4 2024 loss per share was ($7.70); full-year loss per share was ($6.51).

• Non-cash market-to-market adjustment on SAFE investment negatively impacted EPS by ($7.87) in Q4 and ($4.99) for the year.

• Sold California property for $21.5 million in Q4, generating a net profit of $12.3 million.

Significant events and developments

• Provided a $17.75 million short-term loan to the buyer of the California property to finance the acquisition.