Star Holdings Reports $10.3M Q1 Loss and $2M Stock Buyback
STHO•Star Holdings reported a first-quarter net loss of $10.3 million, or $0.85 per share, including a $2.2 million non-cash mark-to-market adjustment that reduced EPS by $0.18. The company collected $13.7 million in loan repayments and repurchased 0.2 million common shares for $2.0 million at an average $8.45 per share.
1. First-Quarter Financial Results
Star Holdings reported a net loss of $10.3 million for the quarter ended March 31, 2026, translating to a loss of $0.85 per share. This result includes a $2.2 million non-cash mark-to-market adjustment on its Safehold investment that lowered EPS by $0.18.
2. Loan Repayments
During the quarter, the company received $10.6 million from the repayment of a mezzanine loan at the Surfhouse multifamily development in Asbury Park and $3.1 million from a senior mortgage on a New York property, totaling $13.7 million in inflows.
3. Share Repurchase Program
Star Holdings repurchased approximately 0.2 million common shares for $2.0 million, paying an average of $8.45 per share. This buyback reflects the company’s focus on enhancing shareholder value and optimizing its capital structure.
4. Portfolio and Strategy
The company's portfolio is concentrated in the Asbury Park Waterfront, Magnolia Green residential projects, and other commercial real estate assets and loans designated for monetization. Star Holdings continues to pursue active asset management and targeted sales to maximize cash flows and realize value for shareholders.
