Brookfield Property Partners L.P. 6.375% Class A Cumulative Redeemable Perpetual Preferred Units Series 2 (BPYPO)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the 2026-10-13 close of $14.81, Mr. Market is offering these preferred units with a 10.55% yield. I start with the business. Brookfield Property Partners owns and operates a global portfolio of office, retail, multifamily, logistics, hospitality, and other real estate, with about $88 billion in assets and 24,000 employees. That can be a durable advantage if the properties sit in major markets and cannot be easily replaced. But the recent figures are not reassuring. In fiscal Q2 2026, revenue was $1.9 billion and net income was negative $23.0 million, a -1.22% margin. Trailing twelve-month free cash flow was negative $4.1 billion. That is a serious sign: accounting earnings and cash generation diverge. The preferred dividend is cumulative, but a 10.55% yield demands confidence in the claim. On FairStock calculations tied to the 2026-10-13 close, the units trade at 6.73 times earnings and 0.73 times book, with a Graham Number of $31.68, implying a 53.25% margin of safety. The Piotroski F-Score is 6/9, and the PEG ratio is 0.08. Return on equity is -0.27%, return on capital employed is 1.97%, and debt to equity is 0.93. The Lynch category is none, because only 0 years of filed results are available and three are needed. The price looks statistically cheap and the yield is large, but negative cash flow and weak returns mean the margin of safety is not as wide as the Graham Number suggests. I would want to see cash flow turn positive and the preferred distribution covered before treating this as a stable income security.

In plain English: This is a preferred share in a large global real estate owner that rents out offices, stores, apartments, logistics, hotels and other properties. The business looks weak right now: it lost money in the latest reported quarter and used more cash than it brought in. The price looks cheap versus its accounting value and it pays a high income, but the cash losses mean it is not a clear bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer