NEW
YORK, Nov. 5, 2024 /PRNewswire/ -- Star Holdings
(NASDAQ: STHO) announced today that it has filed its Quarterly
Report on Form 10-Q for the quarter ended September 30, 2024 with the Securities and
Exchange Commission.
Net income attributable to common shareholders for the third
quarter was $91.9 million and
earnings per share was $6.90. These
results reflect a non-cash adjustment of $93.8 million which increased earnings per share
by $7.05 with respect to our
investment in approximately 13.5 million shares of SAFE based on a
mark-to-market at quarter end.
During the third quarter, the Company recorded $6.1 million of land revenues, which was
comprised of 31 lots at Magnolia Green that were sold. The Company
also recorded income from sales of real estate of $3.7 million for the final two condominium
closings at the Asbury Ocean Club.
Further details regarding the Company's results of operations,
assets and activities are available in the Company's Form 10-Q for
the quarter ended September 30, 2024
which is available for download at the Company's
website www.starholdingsco.com or at the Securities and
Exchange Commission website www.sec.gov.
* *
*
Star Holdings' (NASDAQ: STHO) portfolio is comprised
primarily of interests in the Asbury Park Waterfront, the Magnolia
Green residential development projects and other commercial real
estate properties and loans that are for sale or otherwise plan to
be monetized. Star Holdings also owns shares of Safehold Inc.
(NYSE: SAFE). Star Holdings expects to focus on realizing value for
shareholders from its portfolio primarily by maximizing cash flows
through active asset management and asset sales. Additional
information on Star Holdings is available on its website
at www.starholdingsco.com.
Company Contact:
Pearse Hoffmann
Senior
Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@starholdingsco.com
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SOURCE Star Holdings
