<SEC-DOCUMENT>0001246360-12-002080.txt : 20120418
<SEC-HEADER>0001246360-12-002080.hdr.sgml : 20120418
<ACCEPTANCE-DATETIME>20120418173509
ACCESSION NUMBER:		0001246360-12-002080
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20111215
FILED AS OF DATE:		20120418
DATE AS OF CHANGE:		20120418

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LESLIE JAMES
		CENTRAL INDEX KEY:			0001144411

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19989
		FILM NUMBER:		12766734

	MAIL ADDRESS:	
		STREET 1:		16250 DALLAS PARKWAY
		STREET 2:		SUITE 102
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75248

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRATUS PROPERTIES INC
		CENTRAL INDEX KEY:			0000885508
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		IRS NUMBER:				721211572
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		212 LAVACA STREET
		STREET 2:		SUITE 300
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701
		BUSINESS PHONE:		5124785788

	MAIL ADDRESS:	
		STREET 1:		212 LAVACA STREET
		STREET 2:		SUITE 300
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FM PROPERTIES INC
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0305</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2011-12-15</periodOfReport>

    <notSubjectToSection16>false</notSubjectToSection16>

    <issuer>
        <issuerCik>0000885508</issuerCik>
        <issuerName>STRATUS PROPERTIES INC</issuerName>
        <issuerTradingSymbol>STRS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001144411</rptOwnerCik>
            <rptOwnerName>LESLIE JAMES</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>16250 KNOLL TRAIL DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 102</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75248</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2011-12-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>999</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.2691</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Since the date of the Reporting Person's last Form 4 reflecting common stock holdings, he has transferred ownership of 17,501 shares of common stock held directly to his former spouse. The Reporting Person no longer reports these shares as beneficially owned.</footnote>
        <footnote id="F2">The price reported represents the weighted average price of the shares sold. Shares were sold at varying prices in the range of $7.17 - $7.65. The Reporting Person hereby undertakes, upon request of the Staff of the U.S. Securities and Exchange Commission, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Kelly Simoneaux on behalf of James C. Leslie pursuant to a power of attorney</signatureName>
        <signatureDate>2012-04-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
