Land & Buildings lays out a plan for Hudson's Bay

Land & Buildings lays out a plan for Hudson's Bay

A number of analysts have recently weighed in on the stock. Scotiabank reissued a "sector perform" rating and set a C$14.50 target price on shares of Hudson's Bay Co in a research report on Friday, February 24th.

An activist investor wants a shakeup at Canada's iconic Hudson's Bay Co. Credit Suisse Group lowered shares of Hudson's Bay Co from an outperform rating to a neutral rating in a report on Friday, April 21st. Royal Bank Of Canada restated a sector perform rating and set a C$13.00 target price on shares of Hudson's Bay Co in a research report on Monday, June 5th. The company's stock had a trading volume of 32,070 shares. As such, it is one of those rare diamonds in the rough that a real estate investor occasionally finds in a career, where the value of the real estate, which the Company estimates is worth C$35 per share, could be worth 4x the current share price of C$8.88.

US activist investor Land & Buildings Investment Management LLC on Monday urged the management of Saks Fifth Avenue owner Hudson's Bay Co to explore options including the sale of its real estate assets and taking the company private. BMO Capital Markets now has a C$28.00 target price on the stock. The stock's market cap is $1.62 billion. The firm has a 50-day moving average price of $10.25 and a 200-day moving average price of $11.34. Hudson's Bay Co has a 1-year low of $8.44 and a 1-year high of $18.60. (HBAYF) and is considering strategies including taking the retailer private or redeveloping its vast real estate holdings, the Wall Street Journal reported.

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Its quarterly loss widened to $221-million, or $1.21 a share, from $97-million or 53 cents a year earlier, while sales dipped to $3.2-billion from $3.3-billion. Even if the real estate is worth half the Company's estimate, the shares would still be worth double today's share price. Or office? Or boutique retail stores the likes of Apple and Gucci?

Insiders own about 20% of the company, making any battle Land & Buildings wants to wage an uphill one.

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