Seaport Entertainment: I Sold After The Sale Of 250 Water Street
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Pacifica Yield13.43K FollowersFollow5ShareSavePlay(6min)CommentsSummarySeaport Entertainment's sale of 250 Water Street is set to see the company shed $61 million of debt and push its balance sheet to a strong net cash position.The company lost $33.21 million during the third quarter, with revenue growing by 14.12% year-over-year.SEG's in-place occupancy was 60% at the end of its third quarter, but its leased occupancy is higher at 83%. DenisTangneyJr/iStock Unreleased via Getty Images While Seaport Entertainment's (SEG) balance sheet is heavy on cash following the sale of its 250 Water Street site for $150.5 million, the company continues to incur heavy losses from its businessesThis article was written byPacifica Yield13.43K FollowersFollowThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tickers, REITs, and green energy firms.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Recommended For You