TSX:BPO.PR.A - Post by User
Comment by
pierrelebelon Aug 07, 2023 1:21pm
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Post# 35576321
RE:Easiest Way To Tell If Preferreds Are Probably OK....
RE:Easiest Way To Tell If Preferreds Are Probably OK....
"If people are still buying the Common Shares,"
Common shares of Brookfield Office Properties (BPO) have not been trading since they were all taken over by Brookfield Properties Partner (BPY) six or seven years ago.
"So, why should BPO preferreds have such a high yield over all the other preferreds out there??"
The market is not crazy. It is easy to check the charts for all BPO preferred issues so far in 2023 and you will notice the drop in share values started in late February after the Los Angeles fiasco.
Some investors decided to sell (or short) on the news and others continued to sell in the following months.
"Is BPY going bankrupt?"
I do not think so but we are holding preferred shares in BPO, not BPY.
BPY does have preferred shares trading on Nasdaq and on the TSX (BPYP.PR.A) and paying dividends in US$.
My wife and I own BPO.PR.T, we understand the risks and do not expect to sell nor add to our positions in the near future. Our reward will materialize when the dividend is reset in December (effective March 2024).