Address

Precise Investors

Thursday, April 15, 2021
Latest News

Idea of real estate IPO soars Hudson’s Bay

Hudson’s Bay Co. had its biggest gain in 16 months after the owner of Saks Fifth Avenue signalled it may take its real estate assets public, unlocking value for the Canadian retailer as same-store sales decline.

In a call with analysts Wednesday, Chairman Richard Baker showed a new sense of urgency when asked about his real-estate plans as U.S. interest rates rise.

An initial public offering of a real estate investment trust has been a goal since Hudson’s Bay teamed up with REITs in the U.S. and Canada to create joint-ventures two years ago. At the time, Baker said he wanted to “fatten up the portfolio” first.

“We have a tremendously valuable portfolio of realestate, which could be monetized in a variety of ways,” Baker said on a call discussing quarterly results. “What we should have done and what we should be doing as quick as possible is IPO-ing our U.S. real-estate portfolio and/or IPO-ing our Canadian real-estate portfolio.”

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

4 × 3 =