Professional
Added to YB: 2024-09-02
Pitch date: 2024-08-30
SEG [neutral]
Seaport Entertainment Group Inc.
-27.67%
current return
Author Info
The Lion's Roar is searching for the next long/short idea. Primarily US, SMID cap focused, but looking for value everywhere. Sign up for the newsletter.
Company Info
Seaport Entertainment Group Inc. owns, develops, and operates a portfolio of entertainment and real estate assets primarily in New York City and Las Vegas.
Market Cap
$312.4M
Pitch Price
$30.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
-7.96
P/E
-2.58
EV/Sales
3.42
Sector
Real Estate Management and Development
Category
special_situation
Seaport Entertainment (SEG) - Thoughts and Waffling
SEG (pass): Spun off from HHH, trading at discount to BV. $175M rights offering. Key assets: LV Aviators, Tin Building (losing $), Pier 17 (47% occupied). Risks: cash burn, A's move impact, air rights value uncertainty. Upside: focused mgmt, lease-ups. Est. 63% upside but NAV likely to decline. Pass until operational improvements or price <$25.
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