Why Brookfield Property Partners (BPY) Stock is a Compelling Investment Case
Why Brookfield Property Partners (BPY) Stock is a Compelling Investment Case
Horos Asset Management recently released its Q2 2020 Investor Letter, a copy of which you can download here. The investment firms portfolios have not been immune to this recovery, with Horos Value Internacional posting a 16.0% return in the second quarter in line with the 16.5% rise of its benchmark index, and Horos Value Iberia returning 14.1%, above the 8.5% of its benchmark index. You should check out Horos Asset Management's top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.
霍羅斯資產管理公司(Horos Asset Management)最近發佈了2020年第二季度投資者信，您可以在此處下載。投資公司的投資組合也未能倖免於這種復甦，Horos Value Internacional第二季度的回報率為16.0%，與其基準指數16.5%的漲幅一致，Horos Value Iberia的回報率為14.1%，高於其基準指數的8.5%。你應該看看霍羅斯資產管理公司(Horos Asset Management)現在最值得投資者買入的5只股票，它們可能是股市崩盤的最大贏家。
In the said letter, Horos Asset Management highlighted a few stocks and Brookfield Property Partners L.P. (NASDAQ:BPY) is one of them. Brookfield Property Partners L.P. (NASDAQ:BPY) is a global commercial real estate company and subsidiary of alternative asset management company Brookfield Asset Management. Year-to-date, Brookfield Property Partners L.P. (NASDAQ:BPY) stock lost 40.0% and on September 11th it had a closing price of $10.48. Here is what Horos Asset Management said:
在這封信中，Horos Asset Management強調了幾隻股票和Brookfield Property Partners L.P.(納斯達克股票代碼：BPY)就是其中之一。Brookfield Property Partners L.P.納斯達克股票代碼：BPY)是一家全球性商業地產公司，是另類資產管理公司Brookfield Asset Management的子公司。今年到目前為止，Brookfield Property Partners L.P.(納斯達克市場代碼：BPY)股票下跌40.0%，9月11日收盤價為10.48美元。以下是霍羅斯資產管理公司(Horos Asset Management)的説法：
"The Canadian company Brookfield Property Partners ("BPY") is one of the largest real estate asset managers in the world. It owns, operates and develops a large portfolio of office, retail, multi-family, industrial, hospitality and student housing properties, among others. The company has seen a significant stock price decline this year of about 65%, caused—as it cannot be otherwise—by the great impact of the coronavirus pandemic on the occupation and use of its assets. To this we must add the market's structural fear regarding BPY's high exposure to shopping centres, where bankruptcies and closures have occurred in recent years due to changes in the population's consumption patterns given the rise of e-commerce.
加拿大公司Brookfield Property Partners(“BPY”)是世界上最大的房地產資產管理公司之一。它擁有、經營和開發大量的寫字樓、零售、多户、工業、酒店和學生公寓等物業組合。該公司今年的股價大幅下跌了約65%，原因是冠狀病毒大流行對其資產的佔用和使用產生了巨大影響，這是不可能的。為此，我們必須加上市場對比亞迪在購物中心的高敞口的結構性擔憂，近年來，由於電子商務的興起，人們的消費模式發生了變化，購物中心發生了破產和倒閉。
Despite this, we think that BPY provides an interesting window of opportunity to invest at this time. The reasons? On the one hand, the company's portfolio of shopping centres is of high quality and has been acquired at very attractive prices (see, for example, the acquisition of General Growth Properties). On the other hand, BPY is controlled—51% of the capital—by Brookfield Asset Management, one of the world's largest alternative asset managers and possibly one of the best teams allocating the capital of its companies. In the case of BPY, this translates into value-creating acquisitions, high dividend payments and share buybacks with a high discount on Net Asset Value (NAV). As an example of this, on July 2 BPY announced the offer to buy back its own shares for about 8% of the company's capital.
儘管如此，我們認為BPY在這個時候提供了一個有趣的投資機會之窗。原因何在？一方面，該公司的購物中心組合質量很高，並以非常有吸引力的價格被收購(例如，見收購General Growth Properties)。另一方面，BPY由布魯克菲爾德資產管理公司(Brookfield Asset Management)控制-佔資本的51%-Brookfield Asset Management是世界上最大的另類資產管理公司之一，也可能是為其公司配置資本的最佳團隊之一。就BPY而言，這轉化為創造價值的收購、高股息支付和資產淨值(NAV)較高折扣的股票回購。舉個例子，7月2日，BPY宣佈以約8%的公司資本回購自己的股票。
In short, investing in BPY means buying a global and diversified portfolio of assets with a high discount on its NAV (of 70% at the stock price lows) and partnering with outstanding capital allocators, who will take the necessary measures to reduce this discount and unlock the real value of these assets."
簡而言之，投資BPY意味着以較高的資產淨值折扣率(股價低點折價70%)買入全球性的多元化資產組合，並與優秀的資本配置者合作，後者將採取必要措施降低這種折讓，並釋放這些資產的實際價值。“
Pixabay/ Public Domain
Pixabay/公共領域
Our calculations showed that Brookfield Property Partners L.P. (NASDAQ:BPY) isn't ranked among the 30 most popular stocks among hedge funds.
我們的計算顯示Brookfield Property Partners L.P.(納斯達克股票代碼：BPY)不在對衝基金最受歡迎的30只股票之列。
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
自2014年底以來，對衝基金中回報率最高的10只股票回報率為185%，表現比標準普爾500指數ETF高出逾109個百分點。我們知道這聽起來令人難以置信。你一直在駁斥我們關於頂級對衝基金股票的文章，主要是因為其他媒體向你提供了有關對衝基金業績不佳的有偏見的信息。通過投資頂級對衝基金股票，而不是愚蠢的標準普爾500指數ETF，你本可以將你的儲備金翻一番。下面你可以觀看我們關於目前排名前5位的對衝基金股票的視頻。所有這些股票在2020年都有正回報。
Video: Top 5 Stocks Among Hedge Funds
視頻：對衝基金中排名前5位的股票
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, this “mom” trader turned $2000 into $2 million within 2 years. So, we are checking outher best trade ideaof the month. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We go through lists like the 10most profitable companiesin the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. You can subscribe to our free enewsletter below to receive our stories in your inbox:
在Insider Monkey，我們不遺餘力地尋找下一個偉大的投資想法。例如，這位“媽媽”交易員在2年內將2000美元變成了200萬美元。所以，我們正在檢查本月最好的交易想法。我們讀對衝基金投資者的信，聽對衝基金會議上的股票推介。我們查閲世界上最賺錢的10家公司的名單，挑選最適合購買的大盤股。儘管我們只推薦了我們分析的公司中很小一部分的頭寸，但我們會儘可能多地檢查股票。您可以訂閲下面的免費電子時事通訊，在您的收件箱中接收我們的故事：
Disclosure: None. This article is originally published at Insider Monkey.
披露：沒有。本文最初發表在“內幕猴子”(Insider Monkey)雜誌上。
譯文內容由第三人軟體翻譯。