J.C. Penney’s Real Money Maker: Retail, or Real Estate?

Attempts to re-position J.C. Penney as a hip new kind of retail destination have yet to pay off, but some think there's another way the company can shore up its financial position: make some money off its impressive portfolio of commercial property. In a note today, analysts at BTIG argue the retailer's owned and leased property is "an asset which we believe can be accessed to the benefit of equity investors."