Seaport Entertainment Group Inc. (NYSE:SEG) is one of the 6 Cheap Stocks to Buy According to Bill Ackman.
Seaport Entertainment Group Inc. (NYSE:SEG) is a real estate firm focused on the entertainment sector. The shares are up by 18.8% over the past year and by 23% year-to-date. The firm has been busy in 2026 consolidating and streamlining its balance sheet. In February, Seaport Entertainment Group Inc. (NYSE:SEG) announced that it had closed food operations at the Tin Building in New York. In its place, the Balloon Museum will open at the facility. Additionally, the firm’s decision to divest the 250 Water Street property aims to remove $7 million in annual cash burn and $61 million in mortgage debt.
In May, Seaport Entertainment Group Inc. (NYSE:SEG) announced that it would partner with Public Service to develop a new restaurant in Manhattan as part of the development of a historic building. During the first quarter earnings call, the firm’s management discussed the deal. Seaport Entertainment Group Inc. (NYSE:SEG)’s management touted the demand for experience-driven destinations in the call:
“For those who are not familiar, Public Records is an experience-driven hospitality and music concept located in Brooklyn that blends food and beverage, live music performances and art with thoughtfully designed spaces and creating a single cohesive destination. The Public Service team is an incredible group of tastemakers with a strong track record of generating consistent demand through a continuously evolving platform that has helped define culture in New York City. While this new project is expected to open in 2027 and more details will be announced in the coming months, it reflects the continued demand we’re seeing for experience-driven destinations and reinforces the Seaport’s unique position as a home for these concepts. Speaking of experience-driven concepts, we kicked off the 2026 concert series at The Rooftop at Pier 17 on May 2, with a sold-out show from Mika.”
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