Added to YB: 2019-01-16
Pitch date: 2019-01-16
SMTA [bullish]
Spirit MTA REIT
+59.1%
current return
Author Info
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Company Info
Spirit MTA REIT operated as an externally managed REIT formed in Maryland. The Company began operations through predecessor legal entities which were wholly-owned subsidiaries of Spirit Realty Capital, Inc.
Market Cap
$33.1M
Pitch Price
$0.48
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-0.33
EV/Sales
N/A
Sector
Retail REITs
Category
special_situation
Spirit MTA REIT: ShopKo Files Chapter 11, Plan Accelerated
SMTA: Spirit MTA REIT sells MTA assets to HPT for $450M cash, remaining assets have $2.50-$3.00 upside potential. NAV estimated at $10.70/share; key components are $35M Shopko term loan, Academy Sports distribution center, & workout portfolio. Risks: deal timing, shareholder approval. Currently trades at $8.30.
Read full article (4 min)