Brookfield Properties 3

Brookfield Properties is on the Dividend Aristocrats list. Both Brookfield Properties and Brookfield Asset Management are on the Dividend Achievers list. Brookfield Asset Management is on Mike Higgs’ list. See the Dividend Achievers list at www.dividendachievers.com/, The Dividend Aristocrats list at www.tmxmoney.com/en/individual.html (see indices) and Mike Higgs' list at www.dividendgrowth.org/Report.htm. I have not done a spreadsheet yet on Brookfield Asset Management.

Of the two things going for this stock, the increasing dividend and stock price, both have been hit by recent events. It would appear that the stock dividend is only increasing by US $.01, which will be more for Canadians because of the exchange rate. However, these dividends are declared in US$. Because of recent price changes, the Graham Price is down above the stock price.

A couple of good things is that the Accrual Ratio has turned negative (but not by much) and the Cash Flow is expected to be positive this year. There are ratings on this stock from Strong Buy to Hold, but most ratings seem to be in the Buy region. Analyst 12 month target stock price for this stock has been revised lower lately, as have their target cash flow and target EPS.

Because of recent problems, this stock and the TSX Real Estate Index is below the TSX Index for all periods from Year to Date to 10 years. Also, the Dividend Yield has gone up and the P/E has come down, as would be expected. The Asset/Liability Ratio has improved, but only from 1.17 to 1.18.

Brookfield Properties is a leading North American commercial real estate company that invests in premier-quality office properties in high-growth markets driven by financial service, government, and energy tenants. The portfolio is composed of office properties in 12 top U.S. and Canadian markets. Note that this company is own 51% by Brookfield Asset Management Company (TSX-BAM.A). IIts web site is www.brookfieldproperties.com. See my spreadsheet at www.spbrunner.com/stocks/bpo.htm. I have reloaded my spreadsheet to include the September 2008 quarterly report.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. See my website at www.spbrunner.com/stocks.html for a list of the stocks for which I have put up spreadsheets on my web site.