NEW YORK (TheStreet) -- Shares of Macy's (M) were jumping, higher by 2.38% to $68.40 in early afternoon trading Tuesday, following reports that several hedge funds have asked the department store owner to consider options for its real estate holdings, according to Reuters.
Macy's and its financial advisers are willing to listen to the request and ideas of its shareholders, Reuters reported.
Similarly, Sears Holdings Corp (SHLD) said in April that it will spin off 254 stores into a real estate investment trust.
"We look at all of our stores so we can get the best economic and operational equation in each location. We analyze each store's situation and are always looking to maximize the value of the company," a Macy's spokesman told Reuters in an email.
Cincinnati, Ohio-based Macy's is an omni-channel retail company operating stores and Internet websites under the brands Macy's and Bloomingdale's.
Separately, TheStreet Ratings team rates MACY'S INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MACY'S INC (M) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, solid stock price performance and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had sub par growth in net income."