Many stocks have been testing new highs in 2020, and one of the most notable is Brookfield Property Partners L.P. (BPY). Currently, BPY is trading at $13.90 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $15.21.
To add more color to this target, the company’s high over the last year is $20.58 and the low is $7.10. Over the last 52 weeks, BPY is down -32.46% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, BPY reported a profit of $843.0 million. Brookfield Property Partners L.P. also saw revenues increase to $1.9 billion. In addition, BPY has free cash flow of -$273.0 million as of 03-2020 The company’s EBITDA came in at $930.0 million which compares well with its peers.
About Brookfield Property Partners L.P.
If readers are unfamiliar, Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc., is one of the world’s premier real estate companies, with approximately $88 billion in total assets. We own and operate iconic properties in the world’s major markets, and our global portfolio includes office, retail, multifamily, logistics, hospitality, self-storage, triple net lease, manufactured housing and student housing. Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management Inc., a leading global alternative asset manager with over $540 billion in assets under management. More information is available at www.brookfield.com.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BPY has a short ratio of 7.33 and outstanding shares of 510.80M.
BPY has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.71 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.06. Investors should also keep an eye on sector updates as BPY has historically followed its peers on positive news.
All told, Brookfield Property Partners L.P. BPY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BPY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Brookfield Property Partners L.P. BPY is now commanding a market cap of 12.17B and a float of 435.93M. BPY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BPY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in BPY, either long or short, and we have not been compensated for this article.