# Seaport Entertainment Group Inc. (SEG)

> Source: Nexqual · https://nexqual.com/SEG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Seaport Entertainment Group Inc. (SEG), nexqual.com/SEG" · informational, not investment advice.

**Price:** USD 22.47 (-0.09% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 22.49 · day 22.22–22.64 · 52w 17.74–29.61 · market cap $288M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $122M, net income -$125M (-102.5% margin) (SEC filings).
- 2 of 80 tracked superinvestors hold SEG (13F, Q2 2026): 1 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 36 (range 36–36).
- Total return with dividends: 1Y -8.7% vs S&P 500 +14.9%; 5Y -11.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -0.05, revenue estimate $35.9M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $119M | $115M | $110M | $130M | $122M |
| Operating income | -$66.7M | -$757M | -$102M | -$118M | -$123M |
| Net income | -$111M | -$838M | -$153M | -$117M | -$125M |
| EPS (diluted) | -$20.15 | -$151.77 | -$16.82 | -$9.18 | — |
| Operating margin | -56.0% | -658.8% | -92.7% | -90.6% | -101.2% |
| Net margin | -93.5% | -729.7% | -139.0% | -89.5% | -102.5% |
| Revenue growth | — | -3.5% | -4.0% | +18.3% | — |
| Cash + short-term investments | $16.4M | $1.8M | $166M | $77.8M | — |
| Total debt | — | $156M | $102M | $38.3M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.4x · EV/Sales 1.7x · P/B 0.7x · Earnings yield -43.30% · Net cash $80.5M · EV $207M

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold SEG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Kahn Brothers | Kahn Brothers Group | 3.40% | $19.2M | Unchanged |
| Bill Ackman | Pershing Square | 0.69% | $134M | New position |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 36 (low 36, high 36).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-06 | Jones Trading | Target raised | Buy | $27 → $36 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-07-29) |
|---|---|---|
| Total return | -8.7% | -11.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -8.7% | -5.2% |
| Volatility (annualized) | 31.2% | 42.1% |
| Max drawdown | -26.8% (Oct 2025→Feb 2026) | -47.0% (Nov 2024→Jun 2025) |

## Peers (Real Estate Services)
OPEN (Opendoor Technologies Inc) USD 2.02 +3.59% · CWK (Cushman & Wakefield Ltd.) USD 12.1 +4.49% · IHS (IHS Holding Limited) USD 8.45 +0.24% · NMRK (Newmark Group, Inc.) USD 11.82 +2.96% · CIGI (Colliers International Group In) USD 96.46 +4.00% · FSV (FirstService Corporation) USD 147.22 +7.78%

## More
Full page: https://nexqual.com/SEG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SEG's own 10-K filed 2026-03-04 (https://www.sec.gov/Archives/edgar/data/2009684/000110465926023561/seg-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Howard Hughes Holdings Inc. (HHH) | "In connection with the Spin-Off, we entered into a separation agreement with HHH (the "Separation Agreement")." |
| Partner | Jean-Georges | "Our assets, which are primarily concentrated in New York City and Las Vegas, include the Seaport in Lower Manhattan (the "Seaport"), a 25% minority interest in Jean-Georges Restaurants ("JG") as well as other partnership…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Sponsorships Events & Entertainment | $19.6M | 57.3% | -1.4% |
| Landlord Operations | $7.5M | 21.9% | +59.0% |
| Hospitality | $7.2M | 20.9% | -52.9% |
| Total revenue | $34.3M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Sponsorships Events & Entertainment | $19.6M | 57.3% | -1.4% |
| Rental | $7.1M | 20.6% | +66.7% |
| Hospitality | $7.0M | 20.5% | -53.7% |
| Product & Service Other | $578,000 | 1.7% | +19.4% |
| Total revenue | $34.3M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.05 | $-0.05 | +0.0% | $35.9M | 1 |
| Next quarter (ends 2026-12-31) | $-0.39 | $-0.55 | -29.1% | $26.3M | 1 |
| Current fiscal year (ends 2026-12-31) | $-1.80 | $-2.26 | -20.4% | $109.2M | 1 |
| Next fiscal year (ends 2027-12-31) | $1.50 | $0.09 | +1566.7% | $136.1M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2026-11-04): ±18.8%; last 8 reports averaged ±1.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2027-01-15 | 84 | 48.8% | ±18.8% |