{
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  "docSlug": "ae865eb75860",
  "documentTitle": "Dillard's, Inc. (DDS)",
  "authorId": "07_Marcato",
  "authorName": "Marcato",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-11-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 11,
  "pageCount": 11,
  "prevPage": 10,
  "nextPage": null,
  "slideType": "valuation_table",
  "function": "show_valuation_bridge",
  "density": "balanced",
  "nDataPoints": 65,
  "notes": "Includes a secondary table showing implied Cap Rate, P/AFFO, and Dividend Yield based on PropCo multiples.",
  "elementsJson": [
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  "metadataConfidence": 1,
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  "slideHref": "/slides/019dd923-622b-71dc-a6db-ad37d5373ee7/11",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7#slide-11",
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      "kind": "disclaimer",
      "text": "Source: Marcato estimates (1) At 1/31/15 (2) Property-level NOI / Enterprise Value",
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      "text": "Total Present Value Per Share: $193",
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      "toolName": "Quantification",
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      "text": "Implied metrics table",
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        "x": 0.15,
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      "kind": "table",
      "text": "Sensitivity table of share price vs PropCo/OpCo multiples",
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      "kind": "title",
      "text": "Total Present Value Per Share(1)",
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      "kind": "title",
      "text": "FAVORABLE VALUATION IMPLICATIONS",
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      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
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      "evidence": "The deck presents a clear solution and provides relief by outlining the potential benefits of an OpCo/PropCo transaction.",
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      "name": "Tale Two Worlds",
      "slug": "04-tale-two-worlds",
      "bestFor": "Competitive analysis, benchmarking, case for change",
      "matchId": "657ac6ce-77cf-450f-8e09-818e222f0ed4",
      "evidence": "The deck presents a clear contrast between Dillard's current structure and the potential benefits of an OpCo/PropCo transaction.",
      "position": 0,
      "objective": "To contrast Dillard's current structure with the potential benefits of an OpCo/PropCo transaction.",
      "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication",
      "confidence": 0.7,
      "description": "Show the gap between two states to drive urgency or highlight opportunity"
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