ISI Group thinks J.C. Penney (JCP) could create some value by converting hundreds of locations...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

ISI Group thinks J.C. Penney (JCP) could create some value by converting hundreds of locations into a REIT-like entity which would sublease space to other retailers. By the firm's estimation, JCP would be valued at $46 with the REIT concept accounting for about $40 of the share price. Though the idea assumes a lot more interest in mall real estate space than the market is indicating, any mention of a REIT play by a retailer is typically enough to give shares a nudge. JCP +1.2% premarket.