Brookfield Property Partners (BPY.UN.TO) Buy,…

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Brookfield Property Partners (BPY.UN.TO)

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23.29

-0.15 (0.64%)

as of Jul 26, 2021, 8:00:00 pm Market Open.

371 watching

WATCH

It has had a sharp move higher. There was a gap recently and he expects the stock to come back and fill it. There should be further weakness in the short term and that is where you should look to buy it. (Analysts’ price target is $31.00)

BUY

Why it rose so much after last December dip? He has an answer: it shouldn't have been there in the first place. The markets are sometimes very inefficient in the short term. Core office remains healthy. Still cheaper than shadow REITs with double growth rates. It is not a no risk like Bank of Montreal (BMO-T) but certainly something you can put in your RRSP.

COMMENT

Buy for an RRSP? He hasn't owned a Brookfield company since the recession. So, he doesn't know their financials, but feels they are well-managed. But the payout ratio is 132%--a red flag. You don't have to worry about this with a Brookfield, but he'd like to see a much lower payout. Also, a dividend payer in your RRSP means you could pay full throttle in taxes when you eventually cash out. There are variables at play, so you have to balance a lot of things.

BUY

BIP.UN-T vs. BPY-T. He prefers BPY-T. BIP.UN-T is too expensive for him. A good yield but a big payout. It is not where he would look in the REIT-like space. BPY-T is undervalued. It is a growth by acquisition strategy.

BUY

It got printed in a business magazine over the weekend. It is a very cheap stock with a good yield. It has broken above medium to short term moving averages. It scores well on momentum metrics as well as the yield front. It is a good name for income exposure.

HOLD

Good for an RRSP? This is solid, pretty nice dividend. The bounce is rate-related. Underperforming the REIT sector. Could see some further upside. A bit of Brookfield "tiredness" out there. Assets are good, and so is the balance sheet. Not expecting loads of growth, but your returns should be positive from here.

BUY

It is at about a 30% discount to NAV and he thinks it should be only 15%. It pays a yield and it should go up 15% this year. London properties have an overhang until BREXIT settles. They have contrarian malls in their portfolio in the US. They will turn the value of the real estate around in 3-5 years.

DON'T BUY

Brookfield Properties vs. Keyera Likes KEY very much. Yields 6.5%. Processes natural gas. BIP, he doesn't own. He's concerned, because BBY owns a lot of malls in the U.S., but he fears malls are--or will be--dead. He owns other Brookfield stocks, but not this one.

BUY

Growing dividend 5% annually, with 9% AFFO growth. 14.6x valuation. High-quality REIT, a play on U.S. office. They break old malls and re-package them. This is defence as well as offence.

DON'T BUY

Traded at $30 for a very long time, and that's going to be a point of consolidation which will be a point of resistance. It has a long way to go to get back there. You'd buy it for the yield. Nothing positive fundamentally right now. Pretty stable stock, could rally up to the $24 level. Downside's pretty limited. If it goes below $21, sell it. Limited upside tells him there are better opportunities elsewhere.

WATCH

Good time to get in? Moved sideways for years, a good dividend payer, but now oversold. Look for a rebound to the old support level. If it moves back above $24, he'd be there.

BUY

He likes their strategy. They have just bought shopping malls in the States. They missed in Q3 and interest rates are to blame. Operationally very sound. If the US economy continues, which is the base case, US office should improve, occupancy should improve. Trading at exceptionally good valuation.

BUY

The biggest U.S. mall owner. But they also own industrial and commercial. Diversified. They're good at re-purposing malls by including condos and gyms. The stock is cheap here. They've been buying back stock. She owns this through the Brookfield parent.

BUY

He likes most of the Brookfield holdings and owns the parent company. Its payout ratio is about 80%, but sees the dividend as safe. It is soundly run and trades at a discount to NAV. A great long term holding. Yield 6.5%.

DON'T BUY

Strong brand. Demonstrated success pretty much in all businesses they are involved in. Prefers Brookfield Assets Management (BAM-T). The main question if you own it is what else you have in the way of interest sensitive names. Brookfield Property will be an interest sensitive name. He'd be looking at lightening up on the entire interest sensitive segment and make sure you're well positioned going into 2019.

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