Hudson’s Bay Co (TSE:HBC)
M.Cap: $2.2 billion
Hudson’s Bay Company (HBC) is a Canada-based department store retailer.
|Activist Profile||Land & Buildings Investment Management|
- 13D & OTHER ACTIVIST FILINGS : SUMMARY
In June 2017, Land & Buildings (holds 4.3%) sent a letter to the company stating that it had substantial untapped real estate value embedded in the company.
Valuation Insight: The company estimated that the value of the real estate was worth C$35 per share which was 4x the current share price of C$8.88. Land & Buildings estimated that if the real estate were worth half the company’s estimate, the shares would still be worth double the day’s share price.