Macy's: An Undervalued Hidden Asset Play

Macy’s (NYSE:M) stock is trading nearly 39% below its intrinsic value, with a hidden real estate portfolio estimated at $20.74 per share. This analysis presents updated DCF and price-to-book valuations that suggest investors may be acquiring the company’s retail operations for free. The article breaks down free cash flow trends, real estate estimates, and activist investor proposals—framing Macy’s as a long-term hidden asset opportunity.