We reduce our adjusted EPS estimates to $0.89 from $1.15 in 2026 and $1.14 from $1.62 in 2027. We maintain our $13 price target and Moderate risk rating. On December 17, STRR Equity Holdings, Inc. (STRR), announced three sale/leaseback transactions for properties owned by its Energy Services segment. We forecast the transactions to generate cash proceeds of $3.2 million net of transaction expenses. On December 8, CEO Jeff Eberwein exchanged 320,800 shares of Series A preferred stock for 287,600 shares of newly issued STRR common shares. We have amended our presentation of adjusted EPS to include the effect of dividends on preferred stock and amortization expense for intangible assets. Reductions in our estimates were driven by the combined effect of higher lease expenses, an increased number of common shares, reduced preferred stock dividend expense, and the inclusion of preferred stock dividends and amortization of intangible assets in adjusted EPS. At a recent investor day, STRR presented a suite of AI tools offered by its Hudson Talent Solutions recruiting business. We see AI driving a major transformation of the recruiting industry. Hudson's AI tools are already delivering cost savings to major corporations. Headlines show a weak hiring environment globally, yet recent earnings results from STRR and its competitors suggest a turnaround in hiring may have begun. We maintain our price target of $13 and our Moderate risk rating. We derive our price target by applying STRR's historical multiple of 11x to our new $1.14 forecast for 2027 adjusted EPS, then adding in the projected value of STRR's net cash position of $0.44 per share at 2027 year-end. Previously, we applied an 11x multiple to our prior 2026 $1.15 EPS estimate to achieve the same price target. Our Moderate risk rating is supported by STRR's low leverage, with a debt to capital ratio of 16%.