Added to YB: 2026-05-13
Pitch date: 2026-03-03
STHO [bullish]
Star Holdings
+0.81%
current return
Author Info
No bio for this author
Company Info
Star Holdings engages in the non-ground lease real estate assets business in the United States. The company portfolio comprises Asbury Park Waterfront and Magnolia Green residential development projects.
Market Cap
$105.5M
Pitch Price
$8.60
Price Target
30.00 (+246%)
Dividend
N/A
EV/EBITDA
9.31
P/E
-1.67
EV/Sales
2.15
Sector
Real Estate Management and Development
Category
special_situation
Star Holdings - $STHO
STHO: Liquidating spinoff from SAFE trading $8.50 vs $24 NAV. Owns 13.5M SAFE shares worth $120M (net of margin loan = $10/sh distribution opportunity), plus Asbury Park/Richmond land ($80M BV, parcels optioned by Hovnanian/Toll). Since 2023 spin, sold $170M RE vs $120M BV, cut mgmt fee from $55M to $10M. Anticipate SAFE spin/sale + $50M+ asset sales/loan repayments in 2026. Mgmt owns 4%, bought back 9% shares 2025. 3-5yr liquidation plan entering year 4. ~2.5x upside.
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