Forest City Enterprises Still Not Getting Full Credit For Its Transition
Stephen Simpson, CFA • Tue, Aug. 5
- Concerns about stabilizing key assets like the Barclays Arena and Ridge Hill retail development continue to weigh on the shares of this transitional real estate company.
- Reducing debt and disposing of non-core assets is leading to a leaner, simpler, less-risky model and a real estate company with substantial exposure to the hot Brooklyn property market.
- Fair value appears to lie around $25, but management has a lot of items to cross off the to-do list before the shares will reflect the full underlying value.