Brookfield Property Partners L.P. BPY

Seeking ALPHA

[argon12]

I Just Doubled Down On Brookfield Property Partners - 40% Discount To Fair Value With 7% Dividend Yield

Summary

BPY parent is A-rated Brookfield Asset Management - one of the oldest, largest, and most successful real asset managers in the word - owns the majority of its units.

BPY owns some of the premier office properties, holds a high-quality retail portfolio, and diversifies opportunistically elsewhere.

Shares trade at a steep discount to NAV and given their access to lucrative deals and low-cost capital through BAM, BPY is poised to widen that discount through strong growth.

While leverage is very high, management is focused on driving it down to more reasonable levels. Furthermore, asset quality, diversification, and debt structuring make it far more conservative than the numbers may indicate.

BPY offers a unique opportunity to hold a safe, high-quality real estate portfolio while still harvesting an attractive dividend yield. It also gives our core portfolio exposure to office real estate.

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[Vette08]

I also read and liked the article and the discussion it created was interesting and some people certainly have some good insights. I too have been picking away at these lower levels but my experience as an investor is to always apply a healthy dose of skepticism and I share a lot of the concerns of the naysayers. But its usually never a good idea to short/sell a leader like Bruce Flatt but I do

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[Vette08]

I agree they are absolutely shareholder friendly but its not because they are just nice people....being shareholder friendly builds trust and their ability to raise capital in every kind of market......as I said in earlier posts, your only real risk IMO in buying lots of stock here is that it gets cheaper and BAM continues to buy it in at lower and lower prices and then makes a bid to privatize at