Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of retailer Dillard's
So what: And you thought "real estate" was a bad word these days. Real estate investment trusts have thundered back to life, with some, like CBL & Associates
Now what: While the Dillard's announcement obviously had some serious punch to it, it wasn't exactly long on details. However, the basic outline is that Dillard's will transfer its real estate assets into the new REIT and then lease the properties back to the operators on "triple net" leases. This seems like a pretty savvy move by Dillard's management to realize the value in its real estate holdings, so there may be good reason to stay tuned to the Dillard's story.
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