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Richard Diamond

Principal at Castlewood Capital

Richard Diamond is a Principal at Castlewood Capital Partners, LLC, where he leverages over 25 years of investment experience to lead value-oriented strategies in both private and public markets. He has covered a range of companies including those in mission-critical marine electronics, telecom, and artificial intelligence for clinical diagnostics, demonstrating a successful track record in deal sourcing and portfolio management. Diamond began his investment career prior to 2005, holding senior roles at Evolve Capital Ltd. from 2005 to 2009 and as Partner at Strait Lane Capital Partners from 2009 to 2017 before founding Castlewood Capital Partners. He holds an undergraduate degree from the University of Pennsylvania and an MBA in Finance from The Wharton School.

Richard Diamond's questions to STRATUS PROPERTIES (STRS) leadership

Question · Q2 2022

Richard Diamond of Castlewood Capital asked for insights into shareholder feedback regarding the capital return strategy (buyback vs. dividend) and their long-term commitment to the business, especially considering negative headlines about the housing market.

Answer

Chairman, President and CEO Beau Armstrong explained that shareholder feedback varied, with a general preference for an accretive stock buyback, followed by a dividend, while ensuring enough capital remains for key projects like Section N. Regarding the housing market, Armstrong expressed strong confidence in Austin, believing it will continue to face a critical housing shortage, which presents a significant and durable opportunity for Stratus, differentiating it from negative macro trends.

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