Another department store retailer targeted for its real estate

Macy's and Sears are by no means the only department store companies with valuable real estate.



Activist investor Snow Capital Partners has built a position in Dillard's Inc. and is planning to push for changes at the retailer, including unlocking the value of its real estate portfolio, Bloomberg reported.



“Dillard’s is essentially an underleveraged real estate company that is masquerading as a low productivity retailer,” Snow Park managing partner Jeffrey Pierce stated in an email in the Bloomberg report. The investor said Dillard's store's properties should be valued at upward of $200 per share.



Based in Little Rock, Ark., Dillard’s operates 268 stores and 25 clearance centers across 29 states. The company owns about 90% of its store square footage, the report said.



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