Star Holdings

Listed Company

STHOCIK 0001953366NasdaqEmerging GrowthLessors Of Real Property, NecMarylandFY ends Dec 31

Period

FY 2025

Revenue

$110.14M

Net Income

$-64.25M

Total Assets

$570.20M

Equity

$251.77M

Shares Out

12.08M

Op. Cash Flow

$-11.66M

STHO$9.37+19.52% · past yearDBEQ Basic

Daily closing prices

Business

Star Holdings is a real estate company that owns and actively manages a portfolio of legacy real estate assets, including development properties, operating properties, loans, and land. The company's main portfolio consists of the Asbury Park Waterfront mixed-use project with hotel, residential, and retail components, and Magnolia Green, a master-planned residential community in Virginia. The company operates through a single segment focused on realizing shareholder value by generating cash flows through active asset management and sales of existing properties and loans.

Summary from 10-K filed 2026-02-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	110	113	123	124	272
Interest expense	18	16	23	—	—
Depreciation and amortization	5	4	5	5	6
General and administrative	15	21	36	11	46
Provision for (recovery of) loan losses	−500,000	600,000	2	45	−8
Other expense	9,000	64,000	791,000	494,000	515,000
Total costs and expenses	116	139	177	231	314
Unrealized gains (losses) on equity investments	−65	−67	−171	—	18
Income from sales of real estate	—	4	0	25	26
Income (loss) from operations before other items and income taxes	−71	−88	−225	−82	2
Loss on early extinguishment of debt, net	−70,000	—	−2	—	—
Earnings from equity method investments	—	—	31	46	83
Net income (loss) from operations before income taxes	−71	−88	−196	−36	85
Income tax expense	−27,000	−2,000	—	—	−23
Net income (loss)	−71	−88	−196	−36	63
Net (income) loss from operations attributable to noncontrolling interests	7	2	−66,000	−37,000	74,000
Net income (loss) allocable to common shareholders	−64	−87	−196	−36	63
Net income (loss) allocable to common shareholders - Basic	−4.9	−6.51	−14.74	−2.73	4.71
Net income (loss) allocable to common shareholders - Diluted	−4.9	−6.51	−14.74	−2.73	4.71
Basic (in shares)	13	13	13	13	13
Diluted (in shares)	13	13	13	13	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real estate, at cost	179	98	97	95	—
Less: accumulated depreciation	−30	−25	−22	−18	—
Real estate, net	149	73	75	76	—
Land and development, net	113	176	181	232	—
Loans receivable and other lending investments, net ($578 and $1,118 of allowances as of December 31, 2025 and 2024, respectively)	44	50	21	49	—
Other investments	185	250	316	587	—
Cash and cash equivalents	50	35	51	4	16
Accrued interest and operating lease income receivable, net	2	1	929,000	1	—
Deferred operating lease income receivable, net	432,000	670,000	997,000	1	—
Deferred expenses and other assets, net	27	22	22	17	—
Total assets	570	609	669	1,005	—
Accounts payable, accrued expenses and other liabilities	36	46	42	33	—
Debt obligations, net	269	217	193	—	—
Total liabilities	304	264	235	33	—
Commitments and contingencies (refer to Note 10)	—	—	—	—	—
Common Stock, $0.001 par value, 200,000 shares authorized, 12,318 and 13,320 shares issued and outstanding as of December 31, 2025 and 2024, respectively	12,000	13,000	13,000	—	—
Additional paid-in capital	600	608	608	—	—
Accumulated deficit	−347	−283	−196	—	—
Accumulated other comprehensive income (loss)	−424,000	−104,000	359,000	—	—
Star Holdings shareholders' equity	252	324	412	—	—
Noncontrolling interests	14	21	22	726,000	—
Total equity	266	345	434	972	1,224
Total liabilities and equity	570	609	669	1,005	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	5	4	5	5	6
Stock-based compensation	—	—	2	−12	23
Amortization of discounts/premiums and deferred interest on loans, net	−1	−1	−959,000	−7	−14
Deferred interest on loans received	—	—	5	9	28
Amortization of premium, discount and deferred financing costs and paid-in-kind interest on debt obligations, net	8	8	2	—	—
Distributions from operations of other investments	—	—	22	26	30
Deferred operating lease income	238,000	171,000	140,000	431,000	−257,000
Loss on early extinguishment of debt	70,000	—	2	—	—
Land development revenue (in excess of) cost of sales	−18	−11	−10	2	−17
Other operating activities, net	214,000	−315,000	599,000	−2	20
Changes in accrued interest and operating lease income receivable	−561,000	−378,000	570,000	491,000	5
Changes in deferred expenses and other assets, net	1	−247,000	−2	3	2
Changes in accounts payable, accrued expenses and other liabilities	−1	−6	10	−4	−2
Cash flows used in operating activities	−12	−31	−19	−27	9
Originations and fundings of loans receivable and other lending investments, net	−10	−11	−6	−7	−75
Capital expenditures on real estate assets	−6	−682,000	−997,000	−676,000	−677,000
Capital expenditures on land and development assets, net	−49	−35	−13	—	—
Repayments of and principal collections on loans receivable and other lending investments, net	18	—	32	129	270
Net proceeds from sales of loans receivable	—	—	38	76	123
Net proceeds from sales of real estate	—	5	—	40	127
Net proceeds from sales of land and development assets	47	42	69	60	183
Distributions from other investments	—	—	47	10	33
Cash, cash equivalents & restricted cash acquired upon consolidation of venture (refer to Note 5)	—	—	21	—	—
Other investing activities, net	−2	−143,000	−156,000	19	−4
Cash flows provided by (used in) investing activities	−2	306,000	186	236	673
Net transactions with iStar Inc.	—	—	−290	−218	−676
Borrowings from debt obligations	48	16	253	—	—
Repayments of debt obligations	−4	—	−70	—	—
Payment of deferred financing costs	−216,000	—	−4	—	—
Distributions to noncontrolling interests	—	—	−3	—	−500,000
Payments of debt prepayment or extinguishment costs	−35,000	—	−1	—	—
Repurchase of common stock	−8	—	—	—	—
Other financing activities, net	−157,000	—	—	−25,000	—
Cash flows provided by financing activities	35	16	−114	−218	−676
Changes in cash, cash equivalents and restricted cash	22	−15	53	−10	5

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is Star Holdings's CIK number?

Star Holdings's SEC CIK number is 0001953366 (1953366). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Star Holdings's SEC filings?

All of Star Holdings's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Star Holdings last report earnings?

Star Holdings (STHO) most recently filed an earnings 8-K with the SEC on May 8, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001953366-26-000011). This is Star Holdings's most recent earnings filing of record — not a forecast of its next earnings date.

What is Star Holdings's most recent earnings 8-K?

Star Holdings's latest earnings 8-K (Item 2.02) was filed May 8, 2026 under accession 0001953366-26-000011. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Star Holdings's latest earnings 8-K →
Look up any company's CIK number →