I've got all the money I'll ever need if I die by 4 o'clock (Henny Youngman)

Thursday, 26 June 2014

Semi-recent purchase...

Markets have been grinding higher for a long time, so tough to find stocks that I am stoked about. That said, I did manage to make a few purchases in the last few weeks.  One of these was Brookfield Property Partners (BPY.UN).  

I am a fan of Brookfield’s Management.  The parent is Brookfield Asset Management (BAM), which I don’t own, but I do own another sub (Brookfield Infrastructure) which has done very well.

BPY is a REIT and is a bit of a play on a global real estate recovery.  Holds North American office space, including prime space in LA and New York.  I think they had some good growth opportunities, one of the reasons being because to date they have had little analyst coverage.  However, they recently acquired 100% of Brookfield Office Properties, which should make it more appealing to institutional investors.  I picked it up for $21.30 in mid-May, yielding about 5.02%, and it his snuck up to about $22.15.  I expect modest dividend growth of 4%-5%/yr, and will be disappointed if I don’t manage double-digit returns long term. 

NON-SEQUITUR (or " What the hell does this have to do with dividend investing?")...

“Humility is a strange thing, the minute you think you've got it, you've lost it.”

E.D. Hulse, Bashford Methodist Messenger, Feb. 1967