SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: geoffrey Wren who wrote (48447)6/25/2012 4:04:43 PM
From: Sergio H   of 78742
 
<One thing JC Penney has is some real estate.>

Hi Geoffrey. In 2010 Vornado Realty took on 3 million shares of JCP and at that time the value of JCP's real estate holdings was about $14/share. So, at today's stock price, assuming a flat change on real estate, you get the retail biz and furniture for less than book value.

Using these numbers, JCP does offer value, but I still think it will get cheaper than it is now before value hunters step in. On the other hand, maybe the conversation of splitting JCP's real estate into a Vornado REIT will be resumed.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News