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Brookfield Office Properties
BPO-T
Analysis and Opinions about BPO-T
Signal
Opinion
Expert
COMMENT
COMMENT
December 13, 2010
30-year bond. Good company and well managed. A bit higher yield than most plays. He owns it as a Short against a 30-year Government of Canada bond interest rate as a hedge.
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30-year bond. Good company and well managed. A bit higher yield than most plays. He owns it as a Short against a 30-year Government of Canada bond interest rate as a hedge.
BUY
BUY
November 16, 2010
Brookfield 5.25% 2018 or 5.14% 2020? He would go for the longer one.
Show full opinionHide full opinionBrookfield 5.25% 2018 or 5.14% 2020? He would go for the longer one.
STRONG BUY
STRONG BUY
November 5, 2010
Arguably the highest quality in terms of assets in Canada. Majority of income is from US (40%), mostly in Manhattan. Exceptional management. Office markets. Thinks it is a good name. Owns the parent company. He is comfortable with the valuation
Show full opinionHide full opinionArguably the highest quality in terms of assets in Canada. Majority of income is from US (40%), mostly in Manhattan. Exceptional management. Office markets. Thinks it is a good name. Owns the parent company. He is comfortable with the valuation
COMMENT
COMMENT
October 29, 2010
Good properties. Probably the best way to buy is through Brookfield Asset Management (BAM.A-T), the holding company, because you get all the parts of a holding company at a discount.
Show full opinionHide full opinionGood properties. Probably the best way to buy is through Brookfield Asset Management (BAM.A-T), the holding company, because you get all the parts of a holding company at a discount.
TOP PICK
TOP PICK
October 27, 2010
Global leader and a pure play on Class A office space. Trades at a discount as well as a discount to many of the REITs. Have liquidity and can continue to make acquisitions. Exposure to Australia, US and Canada.
Show full opinionHide full opinionGlobal leader and a pure play on Class A office space. Trades at a discount as well as a discount to many of the REITs. Have liquidity and can continue to make acquisitions. Exposure to Australia, US and Canada.
TOP PICK
TOP PICK
October 7, 2010
Just made some changes where US and Canadian housing has been taken out with Australia being put in. Becoming a clean entity with office properties. Also own Brookfield Office Properties. New York office properties are starting to improve. 3.5% yield. Payout ratio about 50%.
Show full opinionHide full opinionJust made some changes where US and Canadian housing has been taken out with Australia being put in. Becoming a clean entity with office properties. Also own Brookfield Office Properties. New York office properties are starting to improve. 3.5% yield. Payout ratio about 50%.
STRONG BUY
STRONG BUY
September 28, 2010
Had strongly considered this as a Top Pick. Strongest part of Canadian market is REITs, which are able to make accretive acquisitions. Although not a REIT, has about 80% office properties in the US and trades at a discount to REITs. High-quality assets.
Show full opinionHide full opinionHad strongly considered this as a Top Pick. Strongest part of Canadian market is REITs, which are able to make accretive acquisitions. Although not a REIT, has about 80% office properties in the US and trades at a discount to REITs. High-quality assets.
TOP PICK
TOP PICK
September 20, 2010
Have come under a lot of pressure since they announced the acquisition of the Australian office properties but he likes the prospects in North America and Australia. Have the best quality Class A office properties. 2.65% yield.
Show full opinionHide full opinionHave come under a lot of pressure since they announced the acquisition of the Australian office properties but he likes the prospects in North America and Australia. Have the best quality Class A office properties. 2.65% yield.
DON'T BUY
DON'T BUY
September 16, 2010
Has had a sideways movement for the last 6 months or so but well above the 50 and 200 day moving averages. Decent dividend of 3.6%. Missed their earnings estimate last quarter, which would make them shy away.
Show full opinionHide full opinionHas had a sideways movement for the last 6 months or so but well above the 50 and 200 day moving averages. Decent dividend of 3.6%. Missed their earnings estimate last quarter, which would make them shy away.
TOP PICK
TOP PICK
September 1, 2010
Geographically diversified. Trading at a multiple of 16. 3.7% yield.
Show full opinionHide full opinionGeographically diversified. Trading at a multiple of 16. 3.7% yield.
BUY
BUY
Have AAA properties with very high occupancy.
BUY
BUY
August 6, 2010
Have had a fairly major change in strategy. For years they had residential properties in their portfolios but now will be moved into another entity. With the funds they get from this they will buy a whole bunch of properties in major cities in Australia. Likes the move.
Show full opinionHide full opinionHave had a fairly major change in strategy. For years they had residential properties in their portfolios but now will be moved into another entity. With the funds they get from this they will buy a whole bunch of properties in major cities in Australia. Likes the move.
TOP PICK
TOP PICK
August 3, 2010
Putting all their main assets into specialized units. Primarily North American and US office properties. Focusing on Australian properties for Chinese growth. Don't buy today but watch it for a sense of when it is going to bottom.
Show full opinionHide full opinionPutting all their main assets into specialized units. Primarily North American and US office properties. Focusing on Australian properties for Chinese growth. Don't buy today but watch it for a sense of when it is going to bottom.
STRONG BUY
STRONG BUY
July 29, 2010
Highest quality in the land. He has been holding it for the long term. Very well run company. Heavyweight in New York and Manhattan. Can’t say anything against it. 3.6 Dividend.
Show full opinionHide full opinionHighest quality in the land. He has been holding it for the long term. Very well run company. Heavyweight in New York and Manhattan. Can’t say anything against it. 3.6 Dividend.
BUY
BUY
July 19, 2010
Very big cash balance sheet and are expected to go on a shopping spree for some really good properties. Own some very high-quality premium properties in the US. Good management.
Show full opinionHide full opinionVery big cash balance sheet and are expected to go on a shopping spree for some really good properties. Own some very high-quality premium properties in the US. Good management.
