NEW
YORK, Feb. 18, 2025 /PRNewswire/ -- Star
Holdings (NASDAQ: STHO) announced today that it has filed its
Annual Report on Form 10-K for the year ended December 31, 2024 with the Securities and
Exchange Commission.
Net income (loss) attributable to common shareholders was
($102.6) million for the fourth
quarter, and ($86.8) million for the
year. Earnings (loss) per share was ($7.70) for the fourth quarter, and ($6.51) for the year. These results reflect a
non-cash market-to-market adjustment with respect to our investment
in approximately 13.5 million shares of SAFE of ($104.8) million, which decreased earnings per
share by ($7.87), for the quarter,
and ($66.5) million, which decreased
earnings per share by ($4.99), for
the year.
During the fourth quarter, the Company sold land and
improvements at a California
property for $21.5 million, resulting
in a net profit of $12.3
million. In connection with the sale, the Company
provided the buyer with a $17.75
million short term loan to finance its acquisition.
Further details regarding the Company's results of operations,
assets and activities are available in the Company's Form 10-K for
the year ended December 31, 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/star-holdings-reports-fourth-quarter-and-fiscal-year-2024-results-302379475.html
SOURCE Star Holdings
