Skip to main content
No. of Recommendations: 2
Because of their connection with bpy and ultimately bam, the debt load is quite manageable

The debt is 6 times of the equity/market cap. This is a highly leveraged play and I will not count that BPY or BAM will bail them out if they get into some debt trouble. May be even if they bail them out, that may end up buying out minority and individual shareholders at pennies on the dollar situation. This is not a comment on BAM management, it is just that economic incentive and power is so skewed.

roic is probably the best managed, best performing of the group, yet the market largely ignores them

ROIC price to FFO valuation is 14.5, almost 5 multiples higher than BRX and 2.5 multiples higher than KIM.

I would not call this valuation as market ignoring it, rather market is richly valuing it.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.