Brookfield Property Partners L.P. BPY

Buybacks have shifted from

[hoffbag]

BAM to BPY doing the buying if I interpreted last filings correctly.

[Vette08]

Hoffbag, yes it looks like BPY repurchased the last 1.28 million shares.....unfortunately it is only a token amount when your share count is a billion (!) shares.  In my experience, the Board usually feels exposed and wants to look proactive when the stock drops the way BPY has and after the big GGP deal and especially when a majority shareholder is buying (creeping) the way BAM has been over

[Vette08]

I stand corrected.....the GGP discount from the purchase price is closer to 30% today.  :)  I hope BPY is still in the market buying.  The Board / Management should be aggressive in being able to buy a stock today for US$15.3 that you sold for US$21 just 4 months ago......an effective gain of 37%.  I doubt BPY has any other assets that have created underlying value like

[Vette08]

I have not seen any filings of BPY stock being purchased by BAM or BPY in the entire month of December.   December was obviously an unsettling month for markets but the complete halt of insider activity in BPY relative to the very high level of activity in recent months has to mean something, in a negative or positive way. These are interesting times for BPY to say the least. Still

[Vette08]

As a follow on to my last post, it is weird how BAM has a guy blowing his brains out buying BAM pref shares 500 shares at a time (albeit at a nice discount to Par Value but probably at its NAV) when BPY is just sitting there trading 50% below its highly trumpeted NAV. Apparently BPY was a steal at $19 a few months ago to spend $200 million and now BAM see better use of its capital in buying its

[Vette08]

I stand corrected again....just saw an insider filing posted that shows BPY repurchasing 2.7 million shares in December for about US$43 million.    This is another good sign that things are fine.   Not huge amounts but the company was buying meaningful amounts almost every single day in the month despite the capital markets throwing up. Combine this with the recent RBC report