RE:RE:RE:RE:April Share RepurchasesASD,
The price is anyone's guess. There is so much more to consider than just that.
I do not see a V shaped recovery in this stock (but you never know) so I think we can all expect something to happen given the dramatic share price drop. Such as :
(i) BPY does another SIB at say US$12-$13 per share but this doesn't make sense as long as you can buy 2 million shares per month in the open market.
(ii) BAM makes an offer for a specified number of BPY shares and see if there is weakness in the float.
(iii) BAM lets BPY struggle in public view (cuts dividend etc and we hear quarter after quarter the drip torture of who paid their rent and who didn't) and privatization occurs when the long term holders eventually exhaust and capitulate at a lower price than today. BAM would get the stock cheap but tarnish its own reputation as an asset manager given the total failure of its flagship subsidiary.
(iv) BAM stands behind its own pumping of the intrinsic NAV of BPY shares and pays up something like BPY did for all its privatizations of RSE BOX.UN GGP and BPO....basically the 2 year moving average of the share price. That is the dream or us loyal unitholders at this point!
(v) BPY goes on offence and plays a lead in consolidating the entire distressed mall space.
No matter what happens, there is money to be made in this stock if you play smart.
Good luck,
Vette