Added to YB: 2024-10-25
Pitch date: 2024-10-23
SEG [bullish]
Seaport Entertainment Group Inc.
-25.25%
current return
Author Info
Under the Hood is a private investor (ex-NYSE, Bridgewater, Alliance Bernstein) writing about stocks. Sign up for their 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
$29.19
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
value
NYC Premium RE assets at a 80% Fire Sale - Seaport Entertainment Group Inc.
SEG: NYC premium RE at 80% discount. 3 core assets worth $325M vs $200M adj. EV. $550M invested in other assets. Pier 17: $150M value, rooftop concerts growing. TIN: $50M value, turnaround needed. Fulton Market: $125M value, fully leased. 250 Water: unique high-rise potential. Risks: cash burn, 250 Water viability, transparency.
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