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  "docSlug": "f2f1130837d1",
  "documentTitle": "Target Corporation (TGT)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2008-11-19 00:00:00",
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  "pageNumber": 57,
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  "slideType": "valuation_reveal",
  "function": "show_valuation_bridge",
  "density": "balanced",
  "nDataPoints": 3,
  "notes": "The chart is a simple stacked bar representing the sum of two parts ($36 + $31 = $67).",
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  "slideHref": "/slides/019dd923-622c-750b-8b9b-307fbe895978/57",
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      "kind": "callout",
      "text": "Using a “TIPS”-based valuation analysis, our mid-point valuation price of $36/share excludes the value of TIP REIT’s development platform",
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      "kind": "chart",
      "text": "TIP REIT $36, Target Corp $31, Total $67",
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      "text": "Equity Value / Share: $67",
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      "kind": "paragraph",
      "text": "Our mid-point valuation price (pre-IPO) for TIP REIT of $36 (1) implies a 5.0% dividend yield for the TIPS-like security and (2) excludes the value of the Land Developer",
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      "text": "Conservative Approach to Valuation",
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