Spin-Offs

MGP: Post-IPO upside

June 24, 2016

MGM Resorts International (MGM) recently decided to spin off part of its real estate portfolio into a REIT known as MGM Growth Properties LLC (MGP).

Pollo tropical's saucy split

Joe Cornell

May 26, 2016

On Feb. 24, 2016, Fiesta Restaurant Group (FRGI) announced a tax-free spin-off of Taco Cabana into a new publicly traded stock.

Ferrari – Fiat = Accelerated margins

Joe Cornell

March 19, 2016

In early February, shares in Ferrari (RACE) plunged more than 10% to $34.98 after the Italian supercar maker issued conservative guidance for its first full year independent from Fiat Chrysler (FCAU), sending the shares to their lowest level since it’s Oct. 21 initial public offering.

Hilton subletting

Joe Cornell

February 19, 2016

Hilton Worldwide Holdings Inc. (HLT), one of the world’s largest hospitality companies, plans to separate its real estate assets into a publicly traded entity.

MSGN - MSG = +30%

Joe Cornell

January 20, 2016

On Oct. 1, 2015, The Madison Square Garden Co. completed its spin-off from the new media-centric MSG Networks (MSGN) and is trading under the ticker symbol MSG.

FRI – FCPT = +18%

Joe Cornell

December 21, 2015

On Oct. 21, 2015, Darden Restaurants (DRI)—with a stock value of $64.09 and market capitalization of $8.2 billion—announced details related to the planned spin-off of Four Corners Property Trust Inc., a separate publicly traded real estate investment trust (REIT).