STHO — what changed in the latest 10-Q
A section-by-section comparison of STHO's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-07 vs the prior 10-Q · 2026-05-08
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +32 | −20 | ~13 | 16 |
| Market risk (Item 3) | Text added/removed | +2 | −2 | ~2 | 2 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 4 |
| Legal proceedings | Text added/removed | 0 | −1 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-07
Declines in the market value of the Safe Shares could require us to make prepayments of some or all of the outstanding borrowings under the Margin Loan Facility or post additional cash collateral. Accessing incremental borrowings under the Safe Credit Facility will increase our interest expense beca…
Results of Operations for the Three Months Ended June 30, 2026 compared to the Three Months Ended June 30, 2025
Revenue—Operating lease income, which primarily includes income from commercial operating properties, was $2.4 million and $1.9 million, respectively, during the three months ended June 30, 2026 and 2025. The increase in 2026 was due primarily to an increase in percentage rent at one property and an…
Interest income decreased to $1.0 million for the three months ended June 30, 2026 from $1.1 million for the same period in 2025. The decrease in interest income was due primarily to a decrease in the average balance of our performing loans and other lending investments due to loan repayments.
Other income increased to $14.7 million during the three months ended June 30, 2026 from $12.5 million for the same period in 2025. Other income consists primarily of dividend income from our investment in Safe and income from our hotel properties and other operating properties, including Asbury Lan…
Text removed vs the prior filing · source: 10-Q · 2026-05-08
Declines in the market value of the Safe Shares could require us to make prepayments of some or all of the outstanding borrowings under the Margin Loan Facility or post additional cash collateral. Accessing incremental
borrowings under the Safe Credit Facility will increase our interest expense because the interest rate on all borrowings increases to 10.0% per annum while incremental borrowings remain outstanding.
Results of Operations for the Three Months Ended March 31, 2026 compared to the Three Months Ended March 31. 2025
Revenue—Operating lease income, which primarily includes income from commercial operating properties, was $2.0 million and $1.9 million, respectively, during the three months ended March 31, 2026 and 2025. The increase in 2026 was due primarily to one property beginning operations in September 2025,…
Interest income decreased to $0.5 million for the three months ended March 31, 2026 from $1.1 million for the same period in 2025. The decrease in interest income was due primarily to a decrease in the average balance of our performing loans and other lending investments due to loan repayments.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-07
rate-related derivative contracts. Such strategies are designed to reduce our exposure, on specific transactions or on a portfolio basis, to changes in cash flows as a result of interest rate movements in the market. We do not enter into derivative contracts for speculative purposes or as a hedge ag…
The following table quantifies the potential changes in annual net income, assuming no change in our interest earning assets or interest-bearing liabilities, should interest rates decrease or increase by 10, 50 or 100 basis points, assuming no change in the shape of the yield curve (i.e., relative i…
Text removed vs the prior filing · source: 10-Q · 2026-05-08
The following table quantifies the potential changes in annual net income, assuming no change in our interest earning assets or interest-bearing liabilities, should interest rates decrease or increase by 10, 50 or 100 basis points, assuming no
change in the shape of the yield curve (i.e., relative interest rates). Actual results could differ significantly from those estimated in the table.
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2026-05-08
are any of its properties the subject of, any pending legal proceeding that would have a material adverse effect on the Company’s consolidated financial statements.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice