McDonald's Real Estate Windfall Fuels Undervaluation Hopes

McDonald's shares have declined by about 20% from their all-time high due to weak comparable sales growth in its core U.S. market.

The company owns nearly 56% of the land and 80% of its almost 50,000 buildings directly, which could be a significant source of value for investors.

McDonald's trading at a free cash flow yield of around 4.0%, one of the highest since at least the early 2000s, could also indicate undervaluation.