TSX:BPO.PR.A - Post by User
Post by
Carenaon Nov 14, 2024 8:35am
122 Views
Post# 36312308
BN Results
BN ResultsGood morning,
BN results are out and the stock is trading up 6-8% in pre-market.
It definitely seems like Bruce thinks BPY has weathered the storm well and his tone on real estate has definitely changed in his shareholder letter.
Link to shareholder letter:
https://bn.brookfield.com/sites/brookfield-bn/files/BN-IR-Master/Letter-to-Shareholders/2024/BN%20Q3%202024_Ltr_to_Shareholders_F.pdf
At the end of the day, I was the one on this board saying Brookfield is a "show me" story....I still think it is but the market would disagree. I will feel bullish when I can read the BPY financials and they make sense to me..
However the main commitment from Bruce that I latched onto was that all real estate properties that required financings in 2024 would happen quietly and this seems to be the case. I find it interesting that the first statement in the shareholder letter is that they completed $30 billion in financings. I do not think BPY property issue since Feb 2023.
Still very long BPO preferreds,
Carena