|Bid||21.51 x 500|
|Ask||21.52 x 500|
|Day's Range||21.32 - 21.69|
|52 Week Range||19.32 - 45.41|
|PE Ratio (TTM)||9.76|
|Dividend & Yield||1.51 (6.69%)|
|1y Target Est||N/A|
Rating Action: Moody's Affirms Eight Classes of GSMS 2016- GS3. Global Credit Research- 20 Sep 2017. Approximately $891 Million of Structured Securities Affected.
Starboard Value in the past has pushed Macy’s to monetize its real estate, which it values at around $21 billion, compared to the retailer’s market value of about $6 billion. Starboard wanted Macy’s to spin off its real estate – the retailer owns about 50 percent of its stores – into a real estate investment trust (REIT) investment vehicle, but Macy’s instead opted to sell some of its assets and redevelop others, including its flagship locations. Bill Zettler, writing in Seeking Alpha , said that Macy's (NYSE: M) shouldn't be grouped with other retailers – though it's caught up in the industry's decline, posting 10 quarters of declining sales – but rather viewed like a REIT and compared more to other real estate investment stocks like Simon Property Group.
With low unemployment and an expected increase in e-commerce orders, retailers and logistics companies are starting early and going the extra mile to attract seasonal employees.