Comments from Pershing Square's Bill Ackman On Target (TGT)
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Price: $154.48 -0.66%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +3.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +3.5%
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Pershing Square says their proposal has tremendous advantages for Target (NYSE: TGT) shareholders. It will spin-off a REIT. New Target Corp will own its building on 75-year ground leases. This would be a tax-free spin off.
Ackman said Target will retain complete control of its buildings/brand. Replacement cost of Target's owned real estate is $39 billion.
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Ackman said Target will retain complete control of its buildings/brand. Replacement cost of Target's owned real estate is $39 billion.
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William Ackman, Pershing Square CapitalSign up for StreetInsider Free!
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