August 26, 2019. We own BPYPP a preferred from Brookfield and have nice gains. Today we are placing a buy limit order for BPYPO at $25.30. This thing is going UP and you need to act right now to get a decent price.
Brookfield Property Partners L.P. 6.375% Class A Cumulative Redeemable Perpetual Preferred Units Series 2 (NASDAQ: BPYPO) pay a fixed dividend at a rate of 6.375%. The new preferred units carry a ‘BB+’ S&P rating and are callable as of 09/30/2024. Currently, the new issue trades at a price of $25.35 and has a Current Yield of 6.29% and Yield-to-Call of 6.30%. The dividends paid by this preferred stock are not eligible for the preferential 15-20% tax rate on dividends. They are also not eligible for the dividend received deduction for corporate holders. This means that the “qualified equivalent” Current Yield and YTC would be sitting at 5.24% and 5.25%, respectively.
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