BPY - Brookfield Property Partners' 6.8% Distribution Is Safe And Growing
Investment Thesis
Investors of Brookfield Property Partners L.P. (BPY) and Brookfield Property REIT Inc. (BPR) have seen shares slide over the last 12 months, pushing down prices and increasing the company's distribution yield. Since hitting a low of ~USD$15 in December 2018, units have rebounded over 20%. With a current yield of just under 7%, the current entry point still looks very attractive. The distribution is not only safe and well covered, but expected to grow by 5-8% annually. Concerns over debt levels and geopolitical exposure such as the impact of Brexit are overdone. While