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Brookfield Properties Corp. (BPO)

TOP PICK
One of the largest commercial property owners globally. Trades at about 25% to 28% discounted to net asset value. Trades at 10X FFO. Yield of about 3%. Management has been buying back stock aggressively.
DON'T BUY
One of the problems that faced real estate companies in recessions and real estate slowdowns is that stocks get pretty badly beaten up. There is still not much market value support underneath this company. Too early.
TOP PICK
Real estate. Merrill Lynch is a big tenant of theirs and thinks they will re-sign with them. Have been buying back their stock aggressively. Trades at about a 20% discount to its net asset value.
TOP PICK
Permeir office portfolio in North America. Trading below net asset value. A name where you really can't go wrong. Some development risks, but look to be pretty well locked up. A name he really likes.
HOLD
An excellent company and excellent management of office properties. That market could be coming back again.
BUY
One of the best operators around. Operates out of New York. Good balance sheet. Have a big play in Calgary. Top management.
Showing 16 to 21 of 21 entries