NasdaqGS:BPYP.P

Stock Analysis Report

Brookfield Property Partners

Executive Summary

Brookfield Property Partners, through Brookfield Property Partners L.P.

Rewards


Snowflake Analysis

Share Price & News

How has Brookfield Property Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BPYP.P has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.09%

BPYP.P

0.6%

US Real Estate

0.06%

US Market


1 Year Return

n/a

BPYP.P

9.2%

US Real Estate

19.4%

US Market

Return vs Industry: Insufficient data to determine how BPYP.P performed against the US Real Estate industry.

Return vs Market: Insufficient data to determine how BPYP.P performed against the US Market.


Shareholder returns

BPYP.PIndustryMarket
7 Day0.09%0.6%0.06%
30 Day1.8%1.9%1.1%
90 Day2.1%9.5%8.9%
1 Yearn/a10.2%9.2%21.9%19.4%
3 Yearn/a29.0%25.9%48.9%39.3%
5 Yearn/a15.4%11.6%71.9%53.1%

Price Volatility Vs. Market

How volatile is Brookfield Property Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Brookfield Property Partners undervalued compared to its fair value and its price relative to the market?

9.21x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BPYP.P ($26.69) is trading above our estimate of fair value ($21.82)

Significantly Below Fair Value: BPYP.P is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BPYP.P is good value based on its PE Ratio (9.2x) compared to the Real Estate industry average (22x).

PE vs Market: BPYP.P is good value based on its PE Ratio (9.2x) compared to the US market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BPYP.P's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BPYP.P is good value based on its PB Ratio (0.6x) compared to the US Real Estate industry average (1.4x).

Future Growth

How is Brookfield Property Partners forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-24.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BPYP.P's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if BPYP.P's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BPYP.P's revenue is expected to decline over the next 3 years (-24.2% per year).

High Growth Revenue: BPYP.P's revenue is forecast to decline over the next 3 years (-24.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BPYP.P's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Brookfield Property Partners performed over the past 5 years?

-18.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BPYP.P has high quality earnings.

Growing Profit Margin: BPYP.P's current net profit margins (8.7%) are lower than last year (10.5%).


Past Earnings Growth Analysis

Earnings Trend: BPYP.P's earnings have declined by -18.4% per year over the past 5 years.

Accelerating Growth: BPYP.P's earnings growth over the past year (2.6%) exceeds its 5-year average (-18.4% per year).

Earnings vs Industry: BPYP.P earnings growth over the past year (2.6%) exceeded the Real Estate industry -31.1%.


Return on Equity

High ROE: BPYP.P's Return on Equity (7%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Brookfield Property Partners's financial position?


Financial Position Analysis

Short Term Liabilities: BPYP.P's short term assets ($6.8B) exceed its short term liabilities ($5.7B).

Long Term Liabilities: BPYP.P's short term assets ($6.8B) do not cover its long term liabilities ($61.0B).


Debt to Equity History and Analysis

Debt Level: BPYP.P's debt to equity ratio (128.2%) is considered high.

Reducing Debt: BPYP.P's debt to equity ratio has increased from 109.6% to 128.2% over the past 5 years.

Debt Coverage: BPYP.P's debt is not well covered by operating cash flow (1.5%).

Interest Coverage: BPYP.P's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet

Inventory Level: BPYP.P has a high level of physical assets or inventory.

Debt Coverage by Assets: BPYP.P's debt is not covered by short term assets (assets are 0.1x debt).

Dividend

What is Brookfield Property Partners's current dividend yield, its reliability and sustainability?

7.21%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Brookfield Property Partners before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company7.2%marketbottom25%1.4%markettop25%3.7%industryaverage2.2%forecastin3Years7.4%

Current dividend yield vs market & industry

Notable Dividend: BPYP.P's dividend (7.21%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: BPYP.P's dividend (7.21%) is in the top 25% of dividend payers in the US market (3.7%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BPYP.P has been paying a dividend for less than 10 years.

Growing Dividend: BPYP.P's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (65.9%), BPYP.P's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BPYP.P's dividends in 3 years are forecast to be covered by earnings (65.6% payout ratio).

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Brian Kingston (45yo)

4.3yrs

Tenure

0

Mr. Brian W. Kingston is the Chief Executive Officer of Brookfield Property Group LLC since August 28, 2018. Mr. Kingston has been the President and Global Chief Investment Officer at Brookfield Property G ...


Leadership Team

NamePositionTenureCompensationOwnership
Richard Clark
Chairman & Senior Managing Partner of Brookfield Property Partners Limited4.3yrsno data0.038% $6.2m
Brian Kingston
Senior Managing Partner & CEO of Brookfield Property Partners Limited4.3yrsno data0.014% $2.2m
Bryan Davis
Managing Partner of Rest Estate & CFO - Brookfield Property Partners Limited5.1yrsno data0.028% $4.4m
William Powell
Senior Managing Partner of Real Estate & COO - Brookfield Property Partners Ltd1.8yrsno datano data
Lowell Baron
Managing Partner of Real Estate & Chief Investment Officer0yrsno datano data
Mark Brown
Managing Partner of Real Estate & Chief Investment Officer0yrsno datano data
Matthew Cherry
Senior Vice President of Investor Relations & Communications0yrsno datano data
Brett Fox
Managing Partner & General Counsel of Real Estate - Brookfield Property Partners Ltd0yrsno datano data
Robert Dezzutti
Executive Vice President of the Western Region0yrsno datano data
Andrea Balkan
Managing Partner of Real Estate Finance Funds - Brookfield Property Partners Limited0yrsno datano data

4.3yrs

Average Tenure

46yo

Average Age

Experienced Management: BPYP.P's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Richard Clark
Chairman & Senior Managing Partner of Brookfield Property Partners Limited4.3yrsno data0.038% $6.2m
Jeffrey Blidner
Director of Brookfield Property Partners Limited7.1yrsno datano data
Louis Maroun
Independent Director of Brookfield Property Partners Limited7yrsno data0.0068% $1.1m
Omar Carneiro Cunha
Independent Director of Brookfield Property Partners Limited7.1yrsno data0.0024% $391.9k
Soon Young Chang
Director of Brookfield Property Partners Limited5yrsno datano data
Lars Eric Rodert
Lead Independent Director of Brookfield Property Partners Limited0yrsno datano data
Caroline Atkinson
Independent Director of Brookfield Property Partners Limited1yrsno data0.00059% $95.1k
Stephen DeNardo
Independent Director of Brookfield Property Partners Limited7.1yrsno data0.011% $1.8m
Scott Cutler
Independent Director of Brookfield Property Partners Limited1yrsno datano data

6.0yrs

Average Tenure

66yo

Average Age

Experienced Board: BPYP.P's board of directors are considered experienced (6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.9%.


Top Shareholders

Company Information

Brookfield Property Partners L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Brookfield Property Partners L.P.
  • Ticker: BPYP.P
  • Exchange: NasdaqGS
  • Founded:
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: US$16.127b
  • Market Cap: US$8.122b
  • Shares outstanding: 877.88m
  • Website: https://bpy.brookfield.com

Number of Employees


Location

  • Brookfield Property Partners L.P.
  • 73 Front Street
  • 5th Floor
  • Hamilton
  • HM 12
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BPYNasdaqGS (Nasdaq Global Select)YesLimited Partner UnitsUSUSDMar 2013
BPY.UNTSX (The Toronto Stock Exchange)YesLimited Partner UnitsCACADMar 2013
BPYP.PNasdaqGS (Nasdaq Global Select)6.50 PF UNIT A 1USUSDMar 2019
BPYP.ONasdaqGS (Nasdaq Global Select)6.375 PFD 2 CL AUSUSDAug 2019
BOPT.POTCPK (Pink Sheets LLC)5.75 CL A PF SR3USUSDFeb 2020

Biography

Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc., is one of the world’s premier commercial real estate companies, with approximately $85 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, logistics, hospitality, selfstorage, student housing and manufactured housing assets. Brookfield Property Partners L.P. is listed on the Nasdaq Stock Market and the Toronto Stock Exchange. Brookfield Property REIT Inc. is listed on the Nasdaq Stock Market. Further information is available at bpy.brookfield.com. Brookfield Property Partners L.P operates as a subsidiary of Brookfield Asset Management Inc. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 02:22
End of Day Share Price2020/02/18 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.