Brookfield Property Partners L.P. BPY

Q2 Results

[Vette08]

Results were solid and almost boring which, in my opinion,  is a good thing for this stock.

Some small dispositions at above NAV and no acquisitions.    

A continued focus on buybacks and therefore putting their money where their mouth is. 

Conference call was so uneventful it was almost eerie.   

Investor Day in September is the next look inside the company.

[Jsboutin]

I agree. They are showing their capacity to monetize at or above IFRS values, are getting solid operating results and can clearly show a trend in a positive direction. I suspect the market was expecting more on buybacks, but the discussion in the earnings call made it quite clear that their main challenge in that side is that people are unwilling to part with their shares at current levels and

[Capharnaum]

I don't think they can do anything else than be patient and realize value for the shareholders (like they've been doing). A special dividend would be a short time boost where share price would drop right after the dividend. It's a bit funny that there aren't enough shareholders that want to tender their shares at higher than market price, yet the shareprice isn't catching up.

[Vette08]

Capharnaum, I agree with all you have said.   The next 1-2 years for this stock is going to be very interesting.  BPY has its share of risks but I think management will get the stock up....either that happens or BAM is going to do something. The investor day in September should be interesting. Vette