Opinions
Christine Poole
Brookfield Property Partners
BPY-Q
DON'T BUY
Jul 09, 2013
$20.280
Stock price when the opinion was issued
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They had an investor event in New York recently. They have exposure to Now York and London, England. 4.68% yield. They will keep buying back stock. Some rent increases they will be getting have not flowed through the numbers yet. They will increase free cash flow 15% for the next couple of years. He can compound his money here at 20% per year.
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COMMENT
The BAM-BPY deal. What to do? If you can, get the preferred BPY in this deal because it pays a good yield. To buy separately or not, he doesn't know. Most investors prefer to own BAM, because management holds a lot of shares. They do a very good job of buying interesting assets cheaply. Owning BAM is as good as owning other Brookfield stocks.
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If she wanted to get into this group, she would prefer to own the parent, Brookfield Asset Management (B AM.N) as she would expect there would be better growth as well as having a more diversified company.