Macy's Real Estate Valued Up to $10.5B, Far Exceeding Market Cap
Summary
CoStar values Macy's real estate at $7.9-$10.5 billion, significantly above its current market capitalization of approximately $5.7 billion. This highlights substantial untapped asset value, with the company having already sold $400 million in stores and planning up to $300 million more by 2028. This news provides further context to the positive Q1 earnings reported earlier this week and a recent JPMorgan price target increase to $27.
At the time of this announcement, M was trading at $23.08 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $10.54 to $24.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.