By Katherine Hamilton

Shares of Six Flags Entertainment climbed on a report that the amusement-park chain is under pressure from an activist investor to sell its real estate.

The stock rose about 3%, to $21.69, after hours Thursday. Through the close, shares had lost more than half their value this year and touched a 52-week low of $20.79 during the day.

Activist investor Land & Buildings Investment Management plans to tell Six Flags to spin out or sell its real estate and make other changes to boost its stock price, The Wall Street Journal reported Thursday evening.

Land & Buildings has about 2% stake in Six Flags. It wants the Six Flags to create a real-estate investment trust entity--which the activist investor thinks would trade under a higher multiple--or sell its properties. Land & Buildings believes Six Flags' real-estate portfolio could be worth as much as $6 billion.

In August, Six Flags said it was exploring the sale of land and other non-core assets, as it looked to improve its financial position. The Charlotte, N.C., company cut its full-year outlook after attendance fell 9% in the most recently ended quarter. Its chief executive also said he would step down.

Six Flags shares have tanked this year as the company struggles with lower foot traffic and attendance, which it tried to boost with promotions and discounting towards the end of the summer.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

September 25, 2025 19:23 ET (23:23 GMT)

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