Stock fact sheet · data as of
Star Holdings (STHO): fair value, margin of safety and Wheel Score
Real Estate · Real Estate - Services · United States · Value
Is STHO undervalued?
Star Holdings (STHO) closed at 8.01 on 16 Oct 2026. The GLS average fair value - the simple average of the 5 valuation models that produced a positive number - is 12.75, which puts the price 37% below it. 3 of the 5 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 5 models disagree widely: GLS Growth gives 3.36 while Graham Number gives 24.54. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files STHO under Value: positive earnings at a P/E of 18 or less.
Nine valuation models for STHO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 24.54 | +206% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 18.52 | +131% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 4.59 | -43% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 3.36 | -58% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 12.75 | +59% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -20.91 | -361% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - STHO passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.0 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC -12.3%, ROE -25.5%, ROA -11.3% - with debt at 1.07 times equity and negative free cash flow.
Star Holdings pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Other income 34%, Real estate expense 33%, Land development revenue 25% (quarter Q2 FY2026).
Institutional ownership scores 8/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | -12.3% |
|---|---|---|---|
| GLS Moat | 3.0 / 10 | ROE | -25.5% |
| Debt / equity | 1.07 | ROA | -11.3% |
| Free-cash-flow yield | -31.4% | Payout ratio | 0% |
| Institutions | 8 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 66: Good
STHO scores 66 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 25/25), Piotroski health (11/20), the GLS moat (5/15), the option premium on offer (20/20) and how easily the stock trades (6/20). Stability (6/20) is the part holding the score back.
Implied volatility is 61% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (20 of 20) because volatility this high usually comes with a reason. Chain open interest is thin - 1,743 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 15k shares a day on a market cap of $97M, with a beta of 1.26 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 37% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 5 / 15 | moat 3.0/10 | |
| Premium | 20 / 20 | implied volatility 61% | |
| Stability | 6 / 20 | 15k shares/day, $97M cap, beta 1.26 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026, 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Real Estate - Services
The 12 companies below are the closest to Star Holdings by market cap within the Real Estate - Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CPTP Capital Properties, Inc. | 14.68 | 7.73 | -90% | 23No options | $97M |
| OJOC Ojai Oil Company | 326.00 | 208.44 | -56% | 14No options | $91M |
| CNXX CONX Corp. | 5.56 | 21.62 | +74% | 39No options | $105M |
| RFL Rafael Holdings, Inc. | 1.43 | 1.04 | -37% | 22Weak | $73M |
| DOUG Douglas Elliman Inc. | 1.49 | 6.52 | +77% | 51Fair | $135M |
| ASPS Altisource Portfolio Solutions S.A. | 5.59 | 12.60 | +56% | 39No options | $64M |
| CHCI Comstock Holding Companies, Inc. | 17.28 | 48.66 | +64% | 39No options | $174M |
| TPRP Tower Properties Company | 29,000.00 | 43,759.51 | +34% | 39No options | $174M |
| AZLCZ Aztec Land and Cattle Company, Limited | 2,800.00 | 390.58 | -617% | 16No options | $255M |
| ARL American Realty Investors, Inc. | 16.77 | 13.94 | -20% | 24No options | $271M |
| SEG Seaport Entertainment Group Inc. | 21.69 | - | - | 43Weak | $278M |
| RMR The RMR Group Inc. | 18.12 | 50.01 | +64% | 64Fair | $291M |
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Start free See the Sunday ScanQuestions about STHO
Is STHO undervalued right now?
By the GLS models, yes: at 8.01 the stock is 37% below the average fair value of 12.75 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of STHO and what does it mean?
STHO scores 66 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for STHO?
12.75 per share as of 16 Oct 2026 - the simple average of the 5 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Star Holdings report earnings next?
The next earnings report is due on 5 Nov 2026, 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does STHO have listed options, and how liquid are they?
Yes. The nightly snapshot found 68 listed contracts with 1,743 open interest across all expiries and implied volatility of 61% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.