Brookfield Property Partners
BPY.UN-T
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About Brookfield Property Partners (BPY.UN-T)
Brookfield Property Partners is a global company which owns, operates and invests in commercial property. The majority of the company’s assets are located in North America, Europe, and Australia.
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Opinion
Expert
BUY
BUY
September 17, 2019
Really likes it. Trading at a big discount to NAV. Well-run. Tremendous value and pays a wonderful dividend. You hold the Brookfield subsidiaries like this for income. This exposes you to an undervalued, diversified REIT.
Really likes it. Trading at a big discount to NAV. Well-run. Tremendous value and pays a wonderful dividend. You hold the Brookfield subsidiaries like this for income. This exposes you to an undervalued, diversified REIT.
REAL ESTATE
Christopher Blumas
Vice-President & Portfolio Manager, GlobeInvest Capital Management
$26.450
Unknown
TOP PICK
TOP PICK
September 3, 2019
BPY is the real estate arm of Brookfield, with global real estate in premier office and retail. Shares trade at a discount to NAV pays a yield of 7%. (Analysts’ price target is $31.14)
BPY is the real estate arm of Brookfield, with global real estate in premier office and retail. Shares trade at a discount to NAV pays a yield of 7%. (Analysts’ price target is $31.14)
REAL ESTATE
TOP PICK
TOP PICK
August 27, 2019
A diversified REIT, part of the Brookfield family. They take malls and them mixed-use buildings including residences and offices. Amazing assets. The stock has taken a slight hit, because the market doesn't see this value yet. (Analysts’ price target is $31.14)
A diversified REIT, part of the Brookfield family. They take malls and them mixed-use buildings including residences and offices. Amazing assets. The stock has taken a slight hit, because the market doesn't see this value yet. (Analysts’ price target is $31.14)
REAL ESTATE
PAST TOP PICK
PAST TOP PICK
August 22, 2019
(A Top Pick May 30/19, Up 2%) They had an okay Q2. Office was strong, but the retail side was weak. But they will continue to buy back shares. Wait for the investor day in late September to hear about how much they're spending on a new development and what they'll do about closing the 33% discount to NAV. Yields over 7% that they grow 5% a year.
(A Top Pick May 30/19, Up 2%) They had an okay Q2. Office was strong, but the retail side was weak. But they will continue to buy back shares. Wait for the investor day in late September to hear about how much they're spending on a new development and what they'll do about closing the 33% discount to NAV. Yields over 7% that they grow 5% a year.
REAL ESTATE
TOP PICK
TOP PICK
August 14, 2019
Brookfield made a US shopping centre acquisition and he thinks they will turn it around. A great value as it trades at a sizable discount to NAV. A very safe payout ratio, he believes. Yield 6.96% (Analysts’ price target is $31.07)
Brookfield made a US shopping centre acquisition and he thinks they will turn it around. A great value as it trades at a sizable discount to NAV. A very safe payout ratio, he believes. Yield 6.96% (Analysts’ price target is $31.07)
REAL ESTATE
BUY WEAKNESS
BUY WEAKNESS
August 12, 2019
He is not an advocate of averaging down. We have four touches at the recent lows. Some indicators are just starting to turn up. If you can pick it up at $24.25 you will be okay.
He is not an advocate of averaging down. We have four touches at the recent lows. Some indicators are just starting to turn up. If you can pick it up at $24.25 you will be okay.
REAL ESTATE
WAIT
WAIT
August 8, 2019
Dividend nicely covered, at 50% or more. Yield is good. Stock trading between two technical points, which are both discounts to book value. Risk is $23 to the downside, and about $28 on the upside. He prefers to buy on support, instead of in between. Nothing wrong with it, but earnings estimates are oozing downward a bit, and that concerns him. Upside potential is more than 80% on FMV. (Analysts’ price target is $31.07)
Dividend nicely covered, at 50% or more. Yield is good. Stock trading between two technical points, which are both discounts to book value. Risk is $23 to the downside, and about $28 on the upside. He prefers to buy on support, instead of in between. Nothing wrong with it, but earnings estimates are oozing downward a bit, and that concerns him. Upside potential is more than 80% on FMV. (Analysts’ price target is $31.07)
REAL ESTATE
HOLD
HOLD
July 30, 2019
Is a well run business that survived during the peak in interest rates. They have trophy properties around the world. The company should hold together during a recessionary pull back. He would continue to hold.
Is a well run business that survived during the peak in interest rates. They have trophy properties around the world. The company should hold together during a recessionary pull back. He would continue to hold.
REAL ESTATE
DON'T BUY
DON'T BUY
July 26, 2019
When to take a second position after buying a first? He's shorted this in the past. This scores in the middle: OK price momentum, but the valuation struggles. 25x EBITDA with few cash earnings. It's fairly levered. Pays a 7% yield with an okay payout ratio. He's neutral on it. Wouldn't buy it.
When to take a second position after buying a first? He's shorted this in the past. This scores in the middle: OK price momentum, but the valuation struggles. 25x EBITDA with few cash earnings. It's fairly levered. Pays a 7% yield with an okay payout ratio. He's neutral on it. Wouldn't buy it.
REAL ESTATE
BUY
BUY
July 24, 2019
Within the Brookfield group he usually prefers to own the parent. From a yield perspective this is a reasonable place to be. A well run company. A buy at current levels.
Within the Brookfield group he usually prefers to own the parent. From a yield perspective this is a reasonable place to be. A well run company. A buy at current levels.
REAL ESTATE
BUY WEAKNESS
BUY WEAKNESS
July 23, 2019
Nothing wrong with this and the properties are fantastic. He does not own this as he feels we are in late cycle. Rent renewals may become more problematic if the economy slows. Just a little too expensive right now.
Nothing wrong with this and the properties are fantastic. He does not own this as he feels we are in late cycle. Rent renewals may become more problematic if the economy slows. Just a little too expensive right now.
REAL ESTATE
BUY
BUY
July 12, 2019
REAL ESTATE
COMMENT
COMMENT
July 11, 2019
Cheap enough, trading at almost a 50% discount to book value. Balance sheet hasn't gone anywhere for years. Earnings forecast is drifting lower. Almost as though the market's said, Who cares? Income might be good, but what's the driver to get it moving? Yield is 5%.
Cheap enough, trading at almost a 50% discount to book value. Balance sheet hasn't gone anywhere for years. Earnings forecast is drifting lower. Almost as though the market's said, Who cares? Income might be good, but what's the driver to get it moving? Yield is 5%.
REAL ESTATE
COMMENT
COMMENT
July 9, 2019
In isolation BPY.UN-T is a great name. It trades at a large discount to NAV and pays a yield of 6%. He looks at other real estate stocks and he would favour owning the parent BAM-N. He prefers the parent as they collect fees from all the other entities. Now is a good time to own BPY.UN-T due to the discount to NAV and this lower interest rate environment. He would be cautious that they do hold a lot of retail shopping centres, which may require capital investment in the future.
In isolation BPY.UN-T is a great name. It trades at a large discount to NAV and pays a yield of 6%. He looks at other real estate stocks and he would favour owning the parent BAM-N. He prefers the parent as they collect fees from all the other entities. Now is a good time to own BPY.UN-T due to the discount to NAV and this lower interest rate environment. He would be cautious that they do hold a lot of retail shopping centres, which may require capital investment in the future.
REAL ESTATE
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
$25.400
Unknown
BUY
BUY
July 3, 2019
Rate cut opportunity? He does not own any REITs, but is looking closely at this one. It is extremely well managed and has great properties. It looks like very good value and if Fed rates do drop, it would benefit. (Analysts’ price target is $31.00)
Rate cut opportunity? He does not own any REITs, but is looking closely at this one. It is extremely well managed and has great properties. It looks like very good value and if Fed rates do drop, it would benefit. (Analysts’ price target is $31.00)
REAL ESTATE
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