RE:RE:RE:RE:RE:Getting sunk hard todayCANCDN wrote: I agree long term BPY is a good value, but after August 28 it's going to drop 20%.
of course BPY isn't telling us exactly how to covenants have been renegotiated as that would tip their hand about covenants not allowing payout ratios more than x%. Usually it is 80%.
I am assuming your new to REITs?
The K-8 that specifies the covenant condition is available for all to read. Have you read it? Can you pinpoint something about your assumptions? Or are you just spreading your (misinformed) opinion as fact?
Covenants can be about multiple things. In BPY's case, the restrictions are specified in the K-8 issued on July 29.
Lastly, about payouts... They vary greatly but in general REITs pay out around 90% of AFFO. Some will pay over 100% for relatively long period of time (I've seen up to 2 years). Plus, BPY's structure isn't really a REIT.