Shares of department-store operators climbed Thursday as investors made bets on which retailers may follow Dillard’s Inc.  in its plan to form a real-estate investment trust.

Dillard’s said in a regulatory filing late Wednesday it believes the formation of a REIT may enhance its ability to access debt or preferred stock and improve its liquidity. The retailer said it plans to transfer interests in certain properties to the REIT and will then lease back the properties. Get the full story »