Star (STHO)
Manages and monetizes legacy real-estate assets from the iStar separation.
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Manages and monetizes a finite legacy real-estate portfolio centered on Asbury Park Waterfront and Magnolia Green. Cash flow comes from asset management and sales, while a Safehold-affiliated manager provides operating support.
Formed in the 2023 separation from iStar, the externally managed trust oversees a finite portfolio of legacy real-estate assets. Its holdings center on the Asbury Park Waterfront and Magnolia Green residential-development projects, alongside commercial properties, loans, and Safehold shares. Management expects to make investments needed to finish both development projects.
Cash flow comes from active asset management and the sale or other monetization of those holdings, rather than material new acquisitions. A Safehold-affiliated manager provides executive and support personnel, and real-estate conditions, asset-disposal execution, and Safehold-linked financing arrangements shape the business.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $34.8M · Total debt $209.2M · Total assets $508.2M · Shareholders' equity $281.7M
- Revenue
- $10.5M
- Operating income
- $16.2M
- Net income
- $41.5M
No dividends on record.
| Institutions | 66.41% | 8.03M shares | |
|---|---|---|---|
| 84 holders · as of Jun 30, 2026 | |||
| Other | 33.59% | 4.06M shares | |
| remainder | |||
12.09M company shares as of Sep 19, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
TD Securities (USA) LLCInstitution | 10.75% | 1.30M | filed Feb 14, 2025 |
Toronto Dominion BankInstitution | 9.66% | 1.17M | as of Jun 30, 2026 |
Highbridge Capital Management LLCInstitution | 9.34% | 1.13M | as of Jun 30, 2026 |
Foursixthree Capital LPInstitution | 7.31% | 883,897 | as of Jun 30, 2026 |
Saba Capital Management, L.P.Institution | 6.26% | 757,228 | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Star | $9.06 | +0.06% | $109.4M | 7.4 | — | 1.6 | −75.1% |
| Howard Hughes | $65.89 | +0.43% | $3.91B | 13.3 | 20.8 | 1.6 | +330.2% |
| Five Point | $4.91 | −0.30% | $349.8M | 14.1 | — | 3.0 | +157.8% |
| Forestar Group | $26.63 | +0.95% | $1.35B | 7.9 | 9.4 | 0.8 | +4.2% |
| Median | 13.3 | 15.1 | 1.6 | +157.8% |