MGM: Land & Buildings Decides To Go Big

MGM: Land & Buildings Decides To Go Big

MGM: Land & Buildings Decides To Go Big by Stock Pucker

  • L&B is taking on one of the best-known casino operators, despite being relatively unknown itself.
  • L&B thinks in the base case there’s upside to $33 a share, and in the bull case, $55 a share.
  • It appears that MGM’s stock has been pressured of late due to Macau concerns, perhaps, justifiably.

Land & Buildings (“L&B”) has been quietly waging battles in the real estate space for some time. Its specialty is REITs and real estate companies. During October of last year, we noted that L&B was working on unlocking value in Pennsylvania REIT ($PEI). It’s the fund’s second-largest holding.

It’s now taking on the $10 billion market cap casino operator, MGM ($MGM). L&B has put together a 50-page presentation on MGM.

It’s also nominated four directors for the 11-person board. Its four nominees include the former Hilton CFO – Matt Hart; former Equity Office CEO – Richard Kincaid; former PE firm and law firm partner – Marc Weisman; and L&B founder – Jonathan Litt.  Read the full piece here

David Einhorn At The 2021 Sohn Investment Conference: Buy These Copper Plays

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasThere's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More

Land & Buildings Presentation on MGM

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