Brookfield Property Partners L.P. BPY

Results

[Vette08]

The results are fine and the commentary is very positive and it seems like things are well under control.

Things that caught my eye:

(i) No major initiatives and no asset sales
(ii) Dividend status quo ie no cut or suspension
(iii) NAV US$28.5(C$40!) - stated fundamentals of business disconnected from stock price...they continue to stand behind their NAV....this is important.  Expect lots more NCIB activity.
(iv) Retail collections in April on 20%  - ouch!
(v) No refinancings risk

Looking forward to conference call.


Vette

[gashole]

I dont like they only collected 20% of retail rents, but most of that is likely just deffered.... they have cash in the bank.. Looks good to me.  We are well-positioned from a liquidity perspective, ending the quarter with $7.2 billion of group-wide liquidity including $1.8 billion of cash on hand, $3.7 billion of corporate and subsidiary credit facilities and $1.7 billion of undrawn

[FLYIN]

Where is the $5 Billion coming from if a lot of rents are deferred? I don't think they want to blow through the cash they have

[Jsboutin]

The 5B$ comes from BAM and institutional investors, not from BPY.

[born2trade]

BAM is launching  RRP  (Retail Revitalization Program) to revive the retailors for a minority stake in them. This is touted as very agressive move by BAM and the person leading this program is one of the best with proven track record - Ron  Bloom.   more details if you are interested.  <https://www.globenewswire.com/news-release/2020/05/07/2029684/0/en/Brookfield

[thenewsnake]

We need Trumps amazon 15% tax.  Only way for these mom and pop shops to survive!

[argon12]

Trudeau has no balls. Doesnt understand the unfair advantage that Amazon pays so  little tax to Canada. Think of all the property tax that disappears when large real estate goes under.

[FLYIN]

This is the same guy who shipped out all the stockpiles of masks back in January to China, only to pay double or triple for them in March

[deornoth667]

Our governments are full on retarded.  The obvious play with the covid scare was to force people to wear masks in public.  This meant rapidly making a bazillion masks and handing them out for free to everyone.  This would have boosted the economy, allow people to keep working, AND stifled the spread of the disease.  Instead, they nuked the economy with draconian stay at home

[asdfbc]

The guy is an immature bafoon with no finance or economic background. How in the world Canadians voted him in is beyond me.  let's get serious.... a drama teacher vs a Wharton MBA by way of Trump.  Talk about a tilted fight.   

[SNAKEYBOY]

Ontario conservative Doug Ford is being even worse than Trudeau.  Ontario is fine, but emergency orders going till end of May for nothing