Question about BROOKFIELD PROPERTY PREF LP SER (BPYP-PA.TO)

Hi Guys,

Happy New Year and thanks so much for being here… I held BPY shares in my TFSA and earlier this year they merged with BAM and I received some of their shares and also some of this other ticker that I can’t find much info on… in my CIBC Inv Edge TFSA the ticker is BPYP.PR.A but when I google the name they come up with the ticker I referenced above so not even sure if they are the same one?? I get that they are a preferred share and have a helluva dividend, but I don’t really understand what they are and if they are something I should be holding. I also track my portfolio with SimplyWallSt and it doesn’t recognize the ticker at all which irritates me. Really appreciate your time!

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Asked on January 3, 2022 10:49 am

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Private answer

Hey there! This was actually part of the merger which you noted.

This is just your run of the mill preferred share. No special conditions on it or anything from what I can see. It should have a redemption price of $25 I believe. They are also redeemable, meaning the company can call them back and pay you out par value.

They won’t move much in price, but will pay you solid income. They are a more defensive option than common stock. Obviously I can’t tell you outright if you should sell them or not, but I will say this. If you’re looking for a defensive passive income stream with little to no capital appreciation, the preferreds provide that. Myself, I would not invest in them. I’d much rather purchase common stock which although do have more risk, also have much more potential for total returns.

Hope this helps.

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Posted by Dan Kent

Answered on January 3, 2022 8:22 pm

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