Brookfield Office Properties Inc T.BPO.PR.A

HUGE increase in Shorts as of April 30, 2024

[pierrelebel]

BPO.PR.A		17279	-6026
BPO.PR.C		15780	-16242
BPO.PR.I		118234	-7872
BPO.PR.N		38748	17643
BPO.PR.P		73201	61835
BPO.PR.R		61731	41017
BPO.PR.T		351921	-14104
BPO.PR.X		1875	-894
BPO.PR.W		225	50
BPO.PR.Y		2901	2452
BPO.PR.G		69034	2477
BPO.PR.E		10051	-18682
TOTAL		760980	61654

Do the shorts know something the rest of us do not?

[wynner]

I bought 1000 BPO.PR.T recently. Below $15. Five years of 11+%. I will take their money gladly. +tax credit.

[pierrelebel]

Wynner - Welcome to my world! My wife and I added 900 shares at $14.60 two weeks ago.  We now own 10,800 BPO.PR.T.  Frankly it is a bit more than we like as our plan remains to have a well diversified portfolio (about 20 stocks in investment accounts) but... the price and the yield were too good to pass. And life does go on.

[Carena]

Good morning Pierre, Thanks for the information. "Do the shorts know something the rest of us do not?" Firstly, I do not think it is an alarming increase but I do think negativity still surrounds Brookfield's real estate assets.   The BPO prefs have recovered strongly from the lows.....for example, the N series is up 100%.  It could just be that some short sellers

[pierrelebel]

Good afternoon Carena. "The BPO prefs have recovered strongly from the lows..." Yes they have recovered very nicely from their October and December lows. However the last month has been so so.  A quick look at the last 30 day charts for the "A", "C" or "G" shows small decline while "N", "R" and "P" did fine. The "T

[wynner]

RE : BPO.PR.T.  I gave a lot of thought to my purchase. Talk of interest rate cuts by BOC. Maybe 1% this year. All good for Pref real estate shares (in my view). Lack of up to date dividend information e.g. G and M, TMX etc. 11+% yield not on Joe lunch bucket's radar yet. (i am blue collar). So I bought BPO and not BWXT after considerable deliberation. So far so good. BWXT is an excellent

[wynner]

BPO.PR.T shorts = 351,921 . Cover or pay the 3 month dividend June 14th. Half wits.

[Carena]

Hi Pierre, Do the shorts know something the rest of us do not? I think we received the answer to your question today. Veritas Research has come out with a sell rating on BN today, and they were citing a 400% payout ratio by BPY to BN in the first quarter and a 65% decline in FFO on a TTM basis.  Veritas is a reputable firm, IMO. Nonetheless, I read the BN supplemental from its release

[pierrelebel]

Hi Carena. We could use a bit of preferred share buyback at this point.  I have not seen anything since the end of February and we all know the effect of buybacks on the market. In the meantime I am not too concerned with the dividend. The June 28th payment has already been confirmed yesterday and I expect BN will make sure that dividends are paid in the future.  Eventually shorts will

[wynner]

Hi Carena. Worry not. I see that Yahoo has a 638% payout ratio on Riocan Reit . Check out the "statistics" page. Why are they not bankrupt I may ask?