Six Flags (NYSE:SIX) stock is in the news today as activist investors have taken a stake in the company and are seeking changes.
Land & Buildings Investment Management has obtained a 3% stake in SIX stock. Activist investor Jonathan Litt is the founder and CIO of this investment firm and is pushing for major changes at Six Flags to improve business.
In a presentation to the company’s leaders, Land & Buildings Investment Management argues that Six Flags’ real estate is the key to unlocking value for shareholders. It believes that monetizing its real estate, as well as rebonding park attendance, could double the price of SIX stock.
Comments on SIX Stock
Jonathan Litt said the following about Six Flag’s stock in a press release:
“It is the ideal time to take action to monetize Six Flags’ uniquely valuable real estate portfolio given the high multiples similar assets are trading at in the public and private markets. This strategy of separating the real estate and operator is a structure we have seen succeed in maximizing value of numerous hospitality and leisure companies that we’ve invested in historically.”
SIX stock is seeing decent trading today with some 1.8 million shares on the move as of this writing. That’s closing in on its daily average trading volume of about 2.3 million shares.
SIX stock is up 12% as of Wednesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.