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Brookfield Property Partners L.P. (BPY)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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Is there any reason why BPY is popping today? ☺️👍🏿
Anyone know when the deal officially closes?
Also this stock shouldn't move up but also shouldn't move down.
Arn't all share holders basically guaranteed $18.17USD ($22.18CAD) in value.
I guess without the dividends you lose opportunity but if you are holding cash anyways to buy into the market wouldn't this be a good place to park it in the meantime?
Results beat expectations.
But it doesn’t matter. Result good or not, we r not gonna get our dividends. Nor would it reverse the exit offer.
THIS STOCK Gone nowhere. Sold out 90% of my holdings right after they made the buyout announcement. Made that cool 20% initially jump, then put all the money in RioCan and Smartcentres. those two have since went up about 15% each...AND, I've also been getting those sweet 4.6 & 6.5% dividends all along!
Nice to see this. I almost sold 2 days ago up 50% but my limit didn't quite get reached. Now I'm back to square one on 'sell, or hold and convert?' Had been leaning to going BAM but the spendable cash would be nice.
I would like to know how they will determine the interest rate on the new preferred shares. It's not like they are selling shares to investors, and therefore need to price it in a way reflective of demand. Seems they could set the rate at almost anything they want. Anyone know the process?
John # 2
Flatt said the combination of strong markets and asset sales means there’s enough capital on hand for its planned $6.5 billion privatization of Brookfield Property Partners LP, and the repurchase of its own shares, to soak up some of the new equity being issued in the transaction.
I don't see anyone mention taking the preferred shares of BPY. Is there a specific reason why? Wouldn't you still be able to collect a dividend?
Anyone know if the have now suspended next dividend payout or will keep paying until q3 when the deal goes through?
Sold my position today, very happy to move on. Bought Enbridge, good and reliable dividends. Goodby you all and the very best of luck!
Did anyone get cash or BAM shares? When can we choose?
Daylight robbery what this is.
Currently, more than 57% held by institutions. What would happen if majority of the unit holders vote again this?
How can they say just a few months ago, company is worth 26+ per share and now the pandemic is nearing its end (a few bumps along the way), decide to sell it for 18?
It does not make any sense.
I am curious why it is trading so far below the announced price of $18.17 (presently at $17.68).
I find a few things amusing about all this.
1) the company has been saying its intrinsic value was around $27/share for years now, and have suggested the recent events have not really impacted that. Analysts put the value around $19/share. And yet, we get an independent evaluation that puts the price between $14.00 and $18.50?
2) the company has been out saying they want to take BPY private in part because the public markets have not been giving them proper valuation. Just this week BPY price was over $18, so seems the market actually is giving fair value.
3) by holding back any further dividends, the company is holding the cash from an otherwise fully valued company.
I can understand wanting to take BPY private to allow the management to maximize the business value without having to worry about appeasing public shareholders. I just think either the company was doing a mediocre job of valuing the company, or the current valuation is too low. Either way, this deal is almost for certain to close, so make the moves that maximize your own position, I suppose.
Best to all,
"The Arrangement and related transactions are subject to approval by a majority of the public unitholders of BPY, in addition to other customary closing conditions including the approval of the Ontario Superior Court of Justice. "
Will vote against this arrangement.
Link at bottom:
“Any which way that we look at the numbers, there is tremendous momentum coming back into the office market,” says Ryan Masiello, cofounder and chief strategy officer of VTS, a real estate software firm. “I would say the perception is not the reality, where the perception is that the office is dead.”
On Wednesday, VTS published a report on the state of the national office market. Across the country demand in March was just 29% lower than average pre-pandemic levels for that month, a rebound from a 60% year over year decline in January.
$BXP $CIO $VNQ $BPY
Bam the major shareholder used insider information to make lowball offer to take BPY private based on non public info of recovery of business in BPY so as to deprive minor shareholders of gains from the Covid recovery. They have so much conflicts of interest and breach of fiduciary duty.
Here is the status of the BAM offer: "Currently a special committee of BPY’s independent directors is going through the rigorous process of considering the merits of the proposed privatization transaction. While I don’t have a specific date on when they will conclude their process, we anticipate being able to update the investment community on the status of the proposed transaction in the near future."
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