Why Dillard's Is Being Targeted by Snow Park

The transcript discusses the valuation of Dillard's real estate holdings, comparing it to Seritage. It explores potential strategies for maximizing value, including converting real estate to rental income. The analysis suggests that Dillard's real estate could be valued significantly higher if market rents and cap rates are applied. The discussion emphasizes that Dillard's is a cash-flowing land bank with strong financials, and there's no push to convert it into a REIT.

What factors contributed to the valuation of Dillard's real estate holdings being estimated at over $200 a share?

How does the net income from last year relate to the valuation of Dillard's real estate?

What assumptions are made regarding the average rent per square foot in the analysis?

Discuss the implications of Dillard's being described as a 'cash flowing land bank'.

What is the significance of comparing Dillard's to Sarah Taj in terms of real estate valuation?