<SEC-DOCUMENT>0001246360-12-002622.txt : 20120529
<SEC-HEADER>0001246360-12-002622.hdr.sgml : 20120529
<ACCEPTANCE-DATETIME>20120529174510
ACCESSION NUMBER:		0001246360-12-002622
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120524
FILED AS OF DATE:		20120529
DATE AS OF CHANGE:		20120529

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lenehan William H
		CENTRAL INDEX KEY:			0001548409

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19989
		FILM NUMBER:		12875182

	MAIL ADDRESS:	
		STREET 1:		2784 UNION STREET APT 1
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94123

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>3
<SEQUENCE>1
<FILENAME>form.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0205</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2012-05-24</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001548409</rptOwnerCik>
            <rptOwnerName>Lenehan William H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2784 UNION STREET</rptOwnerStreet1>
            <rptOwnerStreet2>APT. 1</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94123</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>Kelly C. Simoneaux on behalf of William H. Lenehan IV pursuant to a power of attorney</signatureName>
        <signatureDate>2012-05-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>lenehan.txt
<TEXT>
POWER OF ATTORNEY


        KNOW ALL MEN BY THESE PRESENTS, that the undersigned does
hereby make, constitute, and appoint WILLIAM H. ARMSTRONG III,
MONIQUE A. CENAC, KELLY C. SIMONEAUX and DOUGLAS N. CURRAULT II,
and each of them acting individually, the true and lawful
attorney of the undersigned with power to act without the
others and with full power of substitution and
resubstitution (i) to complete, execute, and file with the
United States Securities and Exchange Commission (the "SEC"),
The Nasdaq Stock Market, Inc. ("Nasdaq"), and any other stock
exchange or similar authority, for and on behalf of the
undersigned, in the capacity or capacities of the
undersigned as a person subject to Section 16 ("Section 16") of
the Securities Exchange Act of 1934, as amended, with respect to
the securities of Stratus Properties Inc. (the "Issuer"), Forms
3, 4, and 5, any amendment or amendments thereto, and any other
document in support thereof or supplemental thereto, in accordance
with Section 16 and the rules and regulations promulgated by the
SEC thereunder and (ii) to do and perform each and every act and
thing whatsoever that the attorney or attorneys may deem
necessary or advisable to carry out fully the intent of the
foregoing as the undersigned might or could do personally, hereby
ratifying and confirming all acts and things that the attorney
or attorneys may do or cause to be done by virtue of these
presents.  The undersigned hereby acknowledges that the attorneys,
in serving in such capacities at the request of the undersigned,
are not assuming, nor is the Issuer assuming, any of the
responsibilities of the undersigned to comply with Section 16.
This Power of Attorney shall remain in full force and effect
until the undersigned is no longer subject to Section 16 with
respect to the securities of the Issuer, unless earlier revoked
by the undersigned in a signed writing delivered to the attorneys.
        IN WITNESS WHEREOF, the undersigned has executed this Power
of Attorney as of this 25th day of May, 2012.

		/s/ William H. Lenehan IV
 		    WILLIAM H. LENHAN IV




by the undersigned in a signed writing delivered to the attorneys.
        IN WITNESS WHEREOF, the undersigned has exe
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
