RE:COVID-19 Update from BPYI second the thanks on your post (and give you a thumbs up).
I'm actually surprised a bit by how badly BPY and the REITs in general have been beaten up. When in doubt, I blame the automated trading and ETFs and media.
I had read a headline someshere that said that many REITs cut their distribution in 2008-2009. I actually looked it up and only 3 did - Chartwell, H&R, and one other I can't remember.
Sure is a lot of fake news out there trying to scare people.
Still holding long & strong.
Ciao
Sarge
Jsboutin wrote:
They published an update on the impact of Covid-19 this morning. My key takeaways: 1-Office portfolio leased to high quality tenants, biggest impact likely to be on new leases this year. 2-Retail is suffering. 3-Debt is mostly asset-level and non-recourse to BPY. 4-Balancing buybacks (6M shares over last 3 weeks) with the need to maintain a solid financial position. Still long, not quite as strong.