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 is the estimated value per share of Dillard's real estate holdings according to the analysis?

• $200

• $100

• $300

• $400

What is the potential rental income per square foot if Dillard's real estate is converted?

• $11

• $350

• $150

• $470

What is the estimated NOID if Dillard's real estate is converted to rental properties?

• $300 million

• $169 million

• $400 million

• $500 million

What is the cash flow from operations minus CapEx for Dillard's last year?

• $169 million

• $400 million

• $500 million

• $300 million

What is the per square foot valuation of Dillard's real estate in the public markets?

• $150

• $100

• $250

• $200